Castleark Management LLC Takes $6.05 Million Position in Herc Holdings Inc. (NYSE:HRI)

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

Several other hedge funds have also bought and sold shares of HRI. Jones Financial Companies Lllp boosted its stake in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock worth $35,000 after acquiring an additional 167 shares in the last quarter. Quarry LP boosted its stake in Herc by 646.7% during 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. Nomura Asset Management Co. Ltd. boosted its stake in Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after acquiring an additional 80 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Herc during the fourth quarter worth about $59,000. Finally, PNC Financial Services Group Inc. boosted its stake in Herc by 54.6% during the fourth 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 own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Robert W. Baird dropped their target price 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. Citigroup dropped their target price on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays dropped their target price on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Herc currently has an average rating of "Moderate Buy" and an average target price of $139.20.

Herc Stock Performance

Shares of HRI traded down $2.01 during mid-day trading on Friday, hitting $125.81. 279,881 shares of the company traded hands, compared to its average volume of 384,529. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a 50-day moving average price of $124.12 and a two-hundred day moving average price of $169.05. Herc Holdings Inc. has a 1 year low of $96.19 and a 1 year high of $246.88. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.61 and a beta of 1.85.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS 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 business had revenue of $861.00 million for the quarter, compared to analysts' expectations of $841.67 million. During the same period in the prior year, the company posted $2.36 earnings per share. Equities analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. Herc's payout ratio is 62.36%.

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.