Algert Global LLC Cuts Stock Holdings in 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 reduced its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,224 shares of the transportation company's stock after selling 2,910 shares during the period. Algert Global LLC owned 0.06% of Herc worth $2,178,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in Herc by 1,831.3% in the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after buying an additional 293 shares in the last quarter. Quarry LP raised its stake in Herc by 646.7% in the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after buying an additional 194 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Herc in the fourth quarter worth about $59,000. New Age Alpha Advisors LLC bought a new position in Herc in the first quarter worth about $118,000. Finally, CWM LLC raised its stake in Herc by 114.4% in the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after buying an additional 556 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Stock Up 3.3%

Shares of NYSE HRI traded up $4.24 on Wednesday, reaching $132.71. 325,762 shares of the company's stock traded hands, compared to its average volume of 508,633. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $246.88. The business's 50 day simple moving average is $129.45 and its two-hundred day simple moving average is $131.41. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 154.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37.

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

Herc Announces Dividend

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

Wall Street Analysts Forecast Growth

HRI has been the subject of a number of research reports. Robert W. Baird decreased their price target on shares of 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 target on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.