California State Teachers Retirement System Buys 6,330 Shares of Herc Holdings Inc. $HRI

Key Points

• California State Teachers Retirement System increased its Herc Holdings stake by 20.9% in the first quarter, acquiring 6,330 shares for a total of 36,632 shares valued at approximately $3.65 million. Institutional investors collectively own 93.11% of the company.
• Analyst sentiment is favorable, with Herc receiving a consensus “Moderate Buy” rating and an average price target of $177. Several firms recently raised their targets, including KeyCorp to $185 and Wells Fargo to $176.
• Herc reported quarterly EPS of $1.43, well above the $0.76 consensus estimate, while revenue rose 20.2% year over year to $1.20 billion. The company also maintains a quarterly dividend of $0.70 per share, implying a 1.7% annual yield.

California State Teachers Retirement System lifted its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 20.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 36,632 shares of the transportation company's stock after acquiring an additional 6,330 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Herc worth $3,647,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. UBS Group AG grew its holdings in Herc by 83.2% in the 4th quarter. UBS Group AG now owns 189,925 shares of the transportation company's stock worth $28,181,000 after acquiring an additional 86,282 shares during the last quarter. Pier Capital LLC raised its stake in shares of Herc by 21.2% during the fourth quarter. Pier Capital LLC now owns 69,196 shares of the transportation company's stock valued at $10,267,000 after acquiring an additional 12,114 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of Herc during the first quarter valued at about $6,234,000. Norges Bank purchased a new stake in shares of Herc during the fourth quarter worth about $287,269,000. Finally, Jennison Associates LLC purchased a new stake in shares of Herc during the fourth quarter worth about $8,289,000. Institutional investors own 93.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research upgraded Herc from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 9th. BNP Paribas Exane increased their price objective on Herc from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Herc from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their target price on Herc from $160.00 to $176.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, KeyCorp upped their target price on Herc from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Herc currently has a consensus rating of "Moderate Buy" and an average price target of $177.00.

Herc Price Performance

Shares of HRI stock opened at $168.11 on Friday. The business's fifty day moving average is $148.08 and its 200 day moving average is $137.02. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 114.36, a PEG ratio of 23.31 and a beta of 1.87. Herc Holdings Inc. has a twelve month low of $88.45 and a twelve month high of $188.35.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%.The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $1.87 earnings per share. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts expect that Herc Holdings Inc. will post 6.93 EPS for the current fiscal year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 29th. Herc's dividend payout ratio (DPR) is 190.48%.

About Herc

Herc Holdings Inc NYSE: HRI operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company's fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.

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