A&I Financial Services LLC Acquires New Position in Herc Holdings Inc. $HRI

Key Points

• A&I Financial Services LLC has acquired a new position in Herc Holdings Inc., purchasing 4,831 shares valued at approximately $636,000 during the second quarter.
• The company recently announced a quarterly dividend of $0.70, equating to an annualized yield of 2.4%, with a high dividend payout ratio of 325.58%.
• Herc Holdings Inc. reported $1 billion in revenue for the last quarter, significantly exceeding analyst estimates of $868.23 million, and earnings per share were reported at $1.87.

A&I Financial Services LLC acquired a new stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,831 shares of the transportation company's stock, valued at approximately $636,000.

A number of other hedge funds also recently made changes to their positions in HRI. Byrne Asset Management LLC bought a new position in Herc in the 2nd quarter worth approximately $45,000. Salem Investment Counselors Inc. boosted its stake in Herc by 3.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 21,626 shares of the transportation company's stock worth $2,848,000 after purchasing an additional 625 shares during the period. Rhumbline Advisers boosted its stake in Herc by 3.9% in the 1st quarter. Rhumbline Advisers now owns 42,982 shares of the transportation company's stock worth $5,772,000 after purchasing an additional 1,601 shares during the period. Strs Ohio bought a new position in Herc in the 1st quarter worth approximately $779,000. Finally, Jacobi Capital Management LLC boosted its stake in Herc by 16.2% in the 1st quarter. Jacobi Capital Management LLC now owns 2,717 shares of the transportation company's stock worth $365,000 after purchasing an additional 379 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Herc Stock Performance

HRI stock opened at $119.06 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The business's fifty day simple moving average is $128.13 and its two-hundred day simple moving average is $126.47. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 138.44, a PEG ratio of 1.40 and a beta of 1.83.

Herc (NYSE:HRI - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. Analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.70 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.4%. Herc's dividend payout ratio (DPR) is presently 325.58%.

Wall Street Analyst Weigh In

Several research firms have weighed in on HRI. Robert W. Baird dropped their price target on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Citigroup decreased their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Finally, Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Herc presently has an average rating of "Moderate Buy" and a consensus target price of $144.60.

About Herc

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.

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