BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in Herc Holdings Inc. $HRI

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Herc Holdings Inc. by 62.4%, now owning 4,687 shares valued at approximately $629,000.
• Herc Holdings Inc. posted a quarterly earnings report showing earnings per share of $1.87, surpassing the expected $1.29, with revenues of $1 billion compared to the forecast of $868.23 million.
• The company declared a quarterly dividend of $0.70, with a scheduled payout on September 5th, representing an annualized yield of 2.2% and a high dividend payout ratio of 325.58%.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 62.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,687 shares of the transportation company's stock after selling 7,771 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Herc were worth $629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. boosted its holdings in Herc by 5.1% in the first quarter. Xponance Inc. now owns 2,223 shares of the transportation company's stock worth $298,000 after acquiring an additional 107 shares in the last quarter. Vista Finance LLC boosted its holdings in Herc by 8.0% in the first quarter. Vista Finance LLC now owns 1,590 shares of the transportation company's stock worth $213,000 after acquiring an additional 118 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Herc by 11.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,331 shares of the transportation company's stock worth $252,000 after acquiring an additional 132 shares in the last quarter. Quarry LP boosted its holdings in Herc by 646.7% in the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after acquiring an additional 194 shares in the last quarter. Finally, Bailard Inc. boosted its holdings in Herc by 7.0% in the first quarter. Bailard Inc. now owns 3,947 shares of the transportation company's stock worth $530,000 after acquiring an additional 259 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird lowered their price target on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Citigroup reduced their price objective on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $144.60.

Herc Stock Performance

Shares of NYSE:HRI traded down $3.20 during trading on Tuesday, hitting $128.55. The stock had a trading volume of 380,166 shares, compared to its average volume of 584,699. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 149.47, a price-to-earnings-growth ratio of 1.55 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. The stock has a 50-day simple moving average of $129.03 and a two-hundred day simple moving average of $131.40.

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

Herc Dividend Announcement

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

Herc 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.