BI Asset Management Fondsmaeglerselskab A S Has $629,000 Stake 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 cut its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 62.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its stake in Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after buying an additional 194 shares during the period. Larson Financial Group LLC grew its stake in shares of Herc by 1,831.3% in the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after purchasing an additional 293 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Herc in the 4th quarter worth approximately $59,000. New Age Alpha Advisors LLC acquired a new position in shares of Herc in the 1st quarter worth approximately $118,000. Finally, CWM LLC grew its stake in shares of Herc by 114.4% in the 1st quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after purchasing an additional 556 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HRI shares. Robert W. Baird lowered their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Citigroup dropped their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.60.

Herc Stock Down 1.1%

HRI traded down $1.45 during trading on Friday, reaching $131.25. 25,945 shares of the stock traded hands, compared to its average volume of 515,210. The stock's 50-day simple moving average is $129.87 and its two-hundred day simple moving average is $130.93. 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 Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 152.41, a price-to-earnings-growth ratio of 1.56 and a beta of 1.86.

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

Herc Dividend Announcement

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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 22nd. Herc's payout ratio is currently 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.