Alliancebernstein L.P. Purchases 339,519 Shares of Herc Holdings Inc. $HRI

Key Points

• Alliancebernstein L.P. increased its stake in Herc Holdings Inc. by 135.6%, acquiring an additional 339,519 shares and holding a total of 589,817 shares valued at approximately $79.2 million.
• Herc's latest earnings report showed an EPS of $1.87, surpassing analysts' expectations, with a revenue of $1 billion compared to projected $868.23 million.
• A quarterly dividend of $0.70 per share was recently paid, equating to an annualized yield of 2.0%, although the company's payout ratio stands at a high 325.58%.

Alliancebernstein L.P. lifted its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 135.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 589,817 shares of the transportation company's stock after purchasing an additional 339,519 shares during the quarter. Alliancebernstein L.P. owned 2.07% of Herc worth $79,195,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HRI. Larson Financial Group LLC grew its holdings in shares of Herc by 1,831.3% in the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after purchasing an additional 293 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Herc during the 4th quarter valued at about $59,000. Caption Management LLC acquired a new position in Herc during the 1st quarter valued at about $91,000. New Age Alpha Advisors LLC acquired a new position in Herc during the 1st quarter valued at about $118,000. Finally, CWM LLC lifted its position in Herc by 114.4% during the 1st quarter. CWM LLC now owns 1,042 shares of the transportation company's stock valued at $140,000 after purchasing an additional 556 shares during the period. Institutional investors own 93.11% of the company's stock.

Herc Price Performance

NYSE:HRI opened at $138.51 on Friday. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. The firm has a fifty day simple moving average of $130.62 and a 200 day simple moving average of $127.73. The stock has a market capitalization of $4.60 billion, a PE ratio of 161.06, a P/E/G ratio of 1.63 and a beta of 1.83.

Herc (NYSE:HRI - Get Free Report) last released 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. Herc had a net margin of 0.61% and a return on equity of 20.77%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $868.23 million. On average, research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 22nd. Herc's payout ratio is 325.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HRI shares. Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Robert W. Baird dropped their target price on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Finally, Zacks Research upgraded shares of Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company 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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