Allianz Asset Management GmbH Has $15.75 Million Holdings in Herc Holdings Inc. (NYSE:HRI)

Key Points

• Allianz Asset Management GmbH reduced its holdings in Herc Holdings Inc. by 49.2% in Q1, now owning approximately 0.41% of the company valued at about $15.75 million.
• Herc reported $1.30 EPS for the latest quarter, falling short of analysts' estimates of $2.51, with revenues slightly exceeding expectations at $861 million.
• The company declared a quarterly dividend of $0.70, translating to an annualized yield of 1.87% and a payout ratio of 62.36%.

Allianz Asset Management GmbH cut its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 49.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,318 shares of the transportation company's stock after selling 113,812 shares during the period. Allianz Asset Management GmbH owned 0.41% of Herc worth $15,752,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Herc by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock worth $580,655,000 after acquiring an additional 27,578 shares during the period. Capital World Investors boosted its stake in Herc by 435.8% during the 4th quarter. Capital World Investors now owns 1,419,015 shares of the transportation company's stock valued at $268,662,000 after purchasing an additional 1,154,182 shares during the period. FMR LLC grew its stake in shares of Herc by 69.0% in the fourth quarter. FMR LLC now owns 1,245,168 shares of the transportation company's stock worth $235,748,000 after acquiring an additional 508,359 shares during the last quarter. Norges Bank bought a new stake in Herc in the 4th quarter valued at $183,786,000. Finally, Capital International Investors lifted its position in Herc by 58.9% in the fourth quarter. Capital International Investors now owns 561,377 shares of the transportation company's stock worth $106,286,000 after purchasing an additional 208,158 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRI has been the subject of several recent analyst reports. Barclays dropped their price objective on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating and set a $140.00 price target (up from $130.00) on shares of Herc in a report on Tuesday, June 24th. The Goldman Sachs Group restated a "buy" rating and issued a $146.00 price target (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird cut their target price on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Herc has an average rating of "Moderate Buy" and an average target price of $139.20.

Herc Price Performance

HRI traded up $0.02 during midday trading on Monday, hitting $149.10. The company had a trading volume of 252,794 shares, compared to its average volume of 509,687. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The company has a market capitalization of $4.25 billion, a PE ratio of 33.31, a P/E/G ratio of 3.74 and a beta of 1.86. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm's 50-day simple moving average is $129.54 and its 200-day simple moving average is $143.28.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio (DPR) is presently 62.36%.

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.