Banco Bilbao Vizcaya Argentaria S.A. Acquires 2,477 Shares of Herc Holdings Inc. $HRI

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

Several other hedge funds also recently modified their holdings of the business. Hsbc Holdings PLC raised its holdings in shares of Herc by 18.4% during the 1st quarter. Hsbc Holdings PLC now owns 8,042 shares of the transportation company's stock valued at $1,076,000 after purchasing an additional 1,247 shares in the last quarter. Summit Securities Group LLC acquired a new position in Herc during the first quarter worth $259,000. Raymond James Financial Inc. increased its position in Herc by 111.0% during the first quarter. Raymond James Financial Inc. now owns 32,612 shares of the transportation company's stock worth $4,379,000 after buying an additional 17,157 shares during the last quarter. American Century Companies Inc. raised its holdings in Herc by 14.9% during the first quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after buying an additional 120,938 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Herc by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after buying an additional 92,019 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Price Performance

NYSE HRI opened at $129.6020 on Friday. The stock has a 50-day simple moving average of $128.30 and a 200 day simple moving average of $132.47. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The stock has a market capitalization of $4.31 billion, a PE ratio of 150.70, a P/E/G ratio of 1.52 and a beta of 1.86. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15.

Herc (NYSE:HRI - Get Free Report) last released 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 firm 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%. Research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird lowered their price objective 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 price target on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.60.

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.

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