Allspring Global Investments Holdings LLC Buys New Shares in Herc Holdings Inc. (NYSE:HRI)

Allspring Global Investments Holdings LLC purchased a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 82,334 shares of the transportation company's stock, valued at approximately $11,259,000. Allspring Global Investments Holdings LLC owned 0.29% of Herc at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Midwest Financial Group LLC lifted its stake in Herc by 21.4% in the first quarter. Midwest Financial Group LLC now owns 1,603 shares of the transportation company's stock valued at $215,000 after buying an additional 283 shares during the period. Vista Finance LLC increased its stake in shares of Herc by 8.0% in the 1st quarter. Vista Finance LLC now owns 1,590 shares of the transportation company's stock valued at $213,000 after acquiring an additional 118 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Herc by 8.0% in the 1st quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock valued at $907,000 after acquiring an additional 500 shares during the period. Rhumbline Advisers boosted its stake in Herc by 3.9% during the 1st quarter. Rhumbline Advisers now owns 42,982 shares of the transportation company's stock worth $5,772,000 after acquiring an additional 1,601 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Herc by 9,676.3% during the first quarter. GAMMA Investing LLC now owns 42,429 shares of the transportation company's stock valued at $56,970,000 after purchasing an additional 41,995 shares during the period. 93.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Herc Stock Up 0.8%

NYSE HRI traded up $1.11 on Friday, reaching $144.61. The company had a trading volume of 528,465 shares, compared to its average volume of 405,410. The company's fifty day moving average is $123.38 and its 200-day moving average is $149.20. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 1.87 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. Herc Holdings Inc. has a 1-year low of $96.19 and a 1-year high of $246.88.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $841.67 million. Herc had a return on equity of 24.10% and a net margin of 3.53%. During the same quarter in the previous year, the business posted $2.36 earnings per share. On average, research analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.70 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.94%. 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.