Atria Wealth Solutions Inc. Buys Shares of 2,430 Herc Holdings Inc. (NYSE:HRI)

Key Points

• Atria Wealth Solutions Inc. has invested approximately $326,000 in shares of Herc Holdings Inc., acquiring 2,430 shares of the transportation company during the first quarter.
• Herc Holdings recently reported $1.87 earnings per share for the quarter, surpassing expectations, with total revenue reaching $1 billion.
• The company declared a quarterly dividend of $0.70 per share, represented by an annualized yield of 2.2%, with a significant dividend payout ratio of 325.58%.

Atria Wealth Solutions Inc. purchased a new position in Herc Holdings Inc. (NYSE:HRI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,430 shares of the transportation company's stock, valued at approximately $326,000.

A number of other institutional investors also recently bought and sold shares of HRI. Envestnet Asset Management Inc. raised its holdings in Herc by 1.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,628 shares of the transportation company's stock worth $4,663,000 after purchasing an additional 249 shares during the period. Raymond James Financial Inc. bought a new stake in Herc during the fourth quarter valued at about $2,926,000. Townsquare Capital LLC raised its holdings in Herc by 15.2% during the fourth quarter. Townsquare Capital LLC now owns 2,656 shares of the transportation company's stock valued at $503,000 after acquiring an additional 351 shares during the period. Summit Investment Advisors Inc. raised its holdings in Herc by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company's stock valued at $558,000 after acquiring an additional 94 shares during the period. Finally, Barclays PLC raised its holdings in Herc by 5.2% during the fourth quarter. Barclays PLC now owns 54,750 shares of the transportation company's stock valued at $10,365,000 after acquiring an additional 2,692 shares during the period. 93.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price target on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Citigroup reduced their target price on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Barclays reduced their target price on Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $146.00 target price (down from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Herc presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.60.

Herc Trading Down 0.6%

HRI traded down $0.75 on Friday, hitting $125.10. The company had a trading volume of 231,053 shares, compared to its average volume of 619,961. The company has a market cap of $4.16 billion, a PE ratio of 145.47, a PEG ratio of 1.47 and a beta of 1.86. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The business's fifty day simple moving average is $127.89 and its 200 day simple moving average is $134.75.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.29 by $0.58. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. Equities research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 22nd. Herc's payout ratio is 325.58%.

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.