Allspring Global Investments Holdings LLC Sells 12,882 Shares of Herc Holdings Inc. $HRI

Key Points

• Allspring Global Investments Holdings LLC has sold 12,882 shares of Herc Holdings Inc., reducing its stake by 15.6% in the second quarter, leaving it with approximately 69,452 shares valued at $9.6 million.
• Herc Holdings recently issued a quarterly dividend of $0.70 per share, which represents an annualized dividend of $2.80 and a yield of 2.2%, although the company has a high dividend payout ratio of 325.58%.
• Analyst ratings for Herc Holdings are generally positive, with a consensus rating of "Moderate Buy" and an average price target of $149.20, reflecting optimism in the stock's performance.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 15.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,452 shares of the transportation company's stock after selling 12,882 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of Herc worth $9,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRI. Xponance Inc. boosted its holdings in Herc by 5.1% during the first quarter. Xponance Inc. now owns 2,223 shares of the transportation company's stock worth $298,000 after purchasing an additional 107 shares during the last quarter. Midwest Financial Group LLC lifted its position in Herc by 12.5% during the 2nd quarter. Midwest Financial Group LLC now owns 1,803 shares of the transportation company's stock worth $237,000 after buying an additional 200 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Herc by 10.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,215 shares of the transportation company's stock worth $292,000 after buying an additional 210 shares during the last quarter. Bailard Inc. grew its holdings in shares of Herc by 7.0% in the 1st quarter. Bailard Inc. now owns 3,947 shares of the transportation company's stock valued at $530,000 after acquiring an additional 259 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Herc by 1,831.3% in the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after acquiring an additional 293 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Trading Down 3.3%

HRI stock opened at $125.06 on Friday. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 145.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.81. The company has a fifty day moving average price of $125.92 and a two-hundred day moving average price of $124.99. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The transportation company reported $3.42 earnings per share for the quarter. The company had revenue of $745.00 million for the quarter. Herc had a net margin of 0.61% and a return on equity of 20.77%. Equities analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Announces Dividend

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. The ex-dividend date was Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.2%. Herc's dividend payout ratio (DPR) is 325.58%.

Analysts Set New Price Targets

HRI has been the subject of several recent research reports. Robert W. Baird set a $160.00 price target on Herc and gave the company an "outperform" rating in a research report on Wednesday, October 1st. Baird R W raised Herc from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Zacks Research upgraded shares of Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on shares of Herc from $127.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, October 14th. Finally, Citigroup lowered their price objective on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.20.

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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