Ceredex Value Advisors LLC Purchases 39,500 Shares of Herc Holdings Inc. $HRI

Key Points

• Ceredex Value Advisors LLC increased its stake in Herc Holdings Inc. by 103.0%, acquiring an additional 39,500 shares during the first quarter, bringing their total ownership to approximately 0.27% valued at $10.45 million.
• Herc Holdings reported $1.87 earnings per share for the last quarter, significantly surpassing analysts' expectations of $1.29.
• The company announced a quarterly dividend of $0.70 per share, with a 2.2% yield, despite a high dividend payout ratio of 325.58%.

Ceredex Value Advisors LLC lifted its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 103.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,850 shares of the transportation company's stock after buying an additional 39,500 shares during the quarter. Ceredex Value Advisors LLC owned about 0.27% of Herc worth $10,453,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after purchasing an additional 293 shares during the period. Quarry LP grew its holdings in Herc by 646.7% during the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after purchasing an additional 194 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Herc during the fourth quarter valued at approximately $59,000. New Age Alpha Advisors LLC acquired a new position in Herc during the first quarter valued at approximately $118,000. Finally, CWM LLC grew its holdings in Herc by 114.4% during the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock valued at $140,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Stock Down 1.5%

Shares of HRI stock traded down $1.95 during trading on Friday, reaching $130.74. The company's stock had a trading volume of 280,922 shares, compared to its average volume of 439,812. The business has a fifty day moving average price of $130.19 and a 200-day moving average price of $130.40. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 152.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.86. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88.

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

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 22nd. Herc's payout ratio is currently 325.58%.

Analysts Set New Price Targets

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

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.