Castleark Management LLC Makes New $6.05 Million Investment in Herc Holdings Inc. (NYSE:HRI)

Castleark Management LLC bought a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 31,950 shares of the transportation company's stock, valued at approximately $6,049,000. Castleark Management LLC owned about 0.11% of Herc at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HRI. Jones Financial Companies Lllp lifted its holdings in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock valued at $35,000 after purchasing an additional 167 shares in the last quarter. Quarry LP raised its stake in shares of Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after acquiring an additional 194 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Herc by 53.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after purchasing an additional 80 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Herc during the 4th quarter worth approximately $59,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Herc by 54.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock worth $70,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Stock Performance

HRI stock traded up $5.29 on Tuesday, reaching $130.97. 50,278 shares of the company were exchanged, compared to its average volume of 383,214. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The stock's fifty day moving average price is $123.98 and its 200 day moving average price is $167.36. Herc Holdings Inc. has a 12 month low of $96.19 and a 12 month high of $246.88. The firm has a market capitalization of $3.73 billion, a PE ratio of 17.71, a PEG ratio of 1.61 and a beta of 1.85.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The company had revenue of $861.00 million during the quarter, compared to analyst estimates of $841.67 million. During the same period in the prior year, the business earned $2.36 EPS. On average, research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, May 30th. Herc's dividend payout ratio (DPR) is currently 62.36%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Barclays dropped their target price on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird cut their price target on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Citigroup reduced their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.20.

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.