5,000 Shares in Herc Holdings Inc. (NYSE:HRI) Acquired by CM Management LLC

Key Points

• CM Management LLC has made a new investment of approximately $671,000 in Herc Holdings Inc., acquiring 5,000 shares in the first quarter.
• Barclays and Citigroup have both downgraded their price targets for Herc Holdings; Barclays from $250.00 to $160.00 and Citigroup from $170.00 to $140.00.
• Herc reported an earnings per share of $1.87, exceeding analysts' estimates of $1.29, highlighting the company's strong financial performance amid variable market expectations.

CM Management LLC bought a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the transportation company's stock, valued at approximately $671,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after buying an additional 293 shares during the period. Quarry LP lifted its holdings in shares of Herc by 646.7% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Herc in the fourth quarter valued at about $59,000. New Age Alpha Advisors LLC purchased a new stake in shares of Herc in the first quarter valued at about $118,000. Finally, CWM LLC lifted its holdings in shares of Herc by 114.4% in 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 in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Trading Down 0.9%

Shares of NYSE:HRI traded down $1.06 during trading on Friday, reaching $110.44. The stock had a trading volume of 336,666 shares, compared to its average volume of 631,069. The business has a fifty day moving average price of $127.59 and a 200-day moving average price of $138.09. 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 stock has a market cap of $3.67 billion, a P/E ratio of 128.42, a PEG ratio of 1.30 and a beta of 1.86. Herc Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1 billion during 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%. As a group, analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.5%. Herc's dividend payout ratio (DPR) is 325.58%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $146.00 price target (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Robert W. Baird reduced their price target on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Citigroup reduced their price target on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Barclays reduced their price target on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Herc 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.