Algert Global LLC Sells 2,910 Shares of Herc Holdings Inc. $HRI

Key Points

• Algert Global LLC reduced its holdings in Herc Holdings Inc. by 15.2%, owning 16,224 shares valued at approximately $2.18 million after the sale.
• Despite Algert's reduction, other investors have increased their stakes, with Allspring Global Investments purchasing a $11.26 million position in Herc during the same quarter.
• Herc recently announced a quarterly dividend of $0.70 per share, which will be paid to stockholders on September 5th, reflecting a 2.4% dividend yield.

Algert Global LLC lessened its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 15.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,224 shares of the transportation company's stock after selling 2,910 shares during the quarter. Algert Global LLC owned about 0.06% of Herc worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its position in Herc by 111.0% in the 1st quarter. Raymond James Financial Inc. now owns 32,612 shares of the transportation company's stock valued at $4,379,000 after acquiring an additional 17,157 shares in the last quarter. American Century Companies Inc. increased its position in Herc by 14.9% in the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after acquiring an additional 120,938 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Herc by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after buying an additional 92,019 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Herc during the 1st quarter worth approximately $229,000. Finally, Russell Investments Group Ltd. grew its position in shares of Herc by 4.9% during the 1st quarter. Russell Investments Group Ltd. now owns 23,283 shares of the transportation company's stock worth $3,126,000 after buying an additional 1,087 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Stock Up 1.8%

Shares of HRI stock traded up $2.3280 during trading on Monday, reaching $132.0680. The company's stock had a trading volume of 437,096 shares, compared to its average volume of 522,155. The business has a fifty day moving average price of $128.30 and a 200-day moving average price of $131.93. 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 company has a market cap of $4.39 billion, a price-to-earnings ratio of 153.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.86. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88.

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

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 22nd. Herc's payout ratio is currently 325.58%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup lowered their price target on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Robert W. Baird lowered their price target on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Company Profile

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.