Herc Holdings Inc. $HRI Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Herc Holdings by 81.0%, acquiring an additional 2,477 shares, bringing their total holdings to 5,536 shares valued at $748,000.
• Herc Holdings reported $1.87 EPS in its latest earnings, surpassing estimates of $1.29, with revenues of $1 billion compared to expectations of $868.23 million.
• The company announced a quarterly dividend of $0.70 per share, resulting in an annual yield of 2.2%, with a payout ratio of 325.58%.

Banco Bilbao Vizcaya Argentaria S.A. increased its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 81.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,536 shares of the transportation company's stock after acquiring an additional 2,477 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Herc were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Herc during the 1st quarter valued at about $11,259,000. D.A. Davidson & CO. boosted its holdings in shares of Herc by 9.6% during the 1st quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company's stock worth $5,270,000 after purchasing an additional 3,435 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Herc by 8.0% during the 1st quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock worth $907,000 after purchasing an additional 500 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Herc by 1,221.2% during the 4th quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock worth $7,712,000 after purchasing an additional 37,649 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of 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 purchasing an additional 1,601 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their target price on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Citigroup lowered 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. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Herc presently has a consensus rating of "Moderate Buy" and an average target price of $144.60.

Herc Trading Down 1.1%

NYSE HRI traded down $1.45 on Friday, reaching $131.25. The stock had a trading volume of 25,945 shares, compared to its average volume of 515,210. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 152.41, a P/E/G ratio of 1.56 and a beta of 1.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The stock has a fifty day moving average price of $129.87 and a two-hundred day moving average price of $130.93.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.58. The company had revenue of $1 billion for 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%. As a group, sell-side analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.70 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.1%. 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.