California State Teachers Retirement System Has $755.16 Million Stock Position in Herc Holdings Inc. $HRI

Key Points

• California State Teachers Retirement System dramatically increased its Herc Holdings stake by 14,281.7% in the second quarter, acquiring 5.23 million additional shares. It now owns approximately 15.76% of the company, valued at $755.16 million.
• Herc reported quarterly EPS of $1.43, beating the $0.76 analyst estimate, while revenue rose 20.2% year over year to $1.20 billion. The company also declared a quarterly dividend of $0.70 per share, representing a 2.0% annualized yield.
• Analysts maintain a generally positive outlook, with six Buy ratings and three Holds and a consensus price target of $184.43, compared with the reported share price of $141.02.

California State Teachers Retirement System lifted its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 14,281.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,268,318 shares of the transportation company's stock after acquiring an additional 5,231,686 shares during the period. California State Teachers Retirement System owned about 15.76% of Herc worth $755,161,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HRI. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Herc by 4.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,608 shares of the transportation company's stock valued at $239,000 after buying an additional 72 shares in the last quarter. Wealthspire Advisors LLC boosted its position in Herc by 2.8% during the 4th quarter. Wealthspire Advisors LLC now owns 2,717 shares of the transportation company's stock worth $403,000 after acquiring an additional 75 shares during the period. Captrust Financial Advisors grew its stake in Herc by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,051 shares of the transportation company's stock valued at $270,000 after acquiring an additional 100 shares in the last quarter. State of Wyoming grew its stake in Herc by 21.0% during the 1st quarter. State of Wyoming now owns 616 shares of the transportation company's stock valued at $61,000 after acquiring an additional 107 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Herc by 50.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company's stock valued at $51,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Trading Up 0.0%

Shares of Herc stock opened at $141.02 on Monday. The company's fifty day simple moving average is $153.90 and its 200-day simple moving average is $135.80. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 95.93, a PEG ratio of 19.24 and a beta of 1.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35.

Herc (NYSE:HRI - Get Free Report) last released its earnings results 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 net margin of 1.01% and a return on equity of 10.33%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company earned $1.87 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that Herc Holdings Inc. will post 7.05 EPS for the current year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. Herc's dividend payout ratio is currently 190.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BNP Paribas Exane increased their target price on shares of Herc from $160.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Herc from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 9th. KeyCorp increased their price objective on Herc from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Citigroup lifted their price objective on Herc from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on Herc from $176.00 to $218.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Herc presently has an average rating of "Moderate Buy" and a consensus target price of $184.43.

Herc Company Profile

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control systems, pumps, trench-safety equipment, tools, and general construction equipment.

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