Channing Capital Management LLC Has $71.91 Million Stock Holdings in Herc Holdings Inc. $HRI

Key Points

• Channing Capital Management LLC increased its stake in Herc Holdings Inc. by 27.7%, owning 535,578 shares which is now about 2.2% of its portfolio.
• Herc Holdings reported earnings of $1.87 per share for the quarter, surpassing analysts' expectations of $1.29, with revenue reaching $1 billion.
• The company declared a quarterly dividend of $0.70 per share, representing a 2.3% dividend yield, despite a high dividend payout ratio of 325.58%.

Channing Capital Management LLC grew its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 535,578 shares of the transportation company's stock after acquiring an additional 116,233 shares during the quarter. Herc accounts for 2.2% of Channing Capital Management LLC's holdings, making the stock its 18th biggest position. Channing Capital Management LLC owned approximately 1.88% of Herc worth $71,912,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HRI. Invesco Ltd. boosted its position in Herc by 104.7% during the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock worth $400,995,000 after acquiring an additional 1,527,244 shares during the last quarter. Jennison Associates LLC boosted its position in Herc by 79.5% during the 1st quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company's stock worth $40,217,000 after acquiring an additional 132,693 shares during the last quarter. American Century Companies Inc. boosted its position in Herc by 14.9% during the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after acquiring an additional 120,938 shares during the last quarter. Cartenna Capital LP acquired a new position in Herc during the 4th quarter worth approximately $20,494,000. Finally, Nuveen LLC acquired a new position in Herc during the 1st quarter worth approximately $14,528,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Stock Performance

HRI traded up $11.0620 during trading hours on Friday, reaching $129.6020. The company's stock had a trading volume of 560,370 shares, compared to its average volume of 597,316. Herc Holdings Inc. has a 52 week low of $96.18 and a 52 week high of $246.88. The company's 50-day moving average is $128.30 and its 200-day moving average is $132.47. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $4.31 billion, a PE ratio of 150.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.86.

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

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 22nd. Herc's dividend payout ratio is 325.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HRI. Robert W. Baird dropped their price objective on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Citigroup dropped their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.60.

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.