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) in the first quarter, according to the company in 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.

Several other institutional investors also recently bought and sold shares of HRI. JPMorgan Chase & Co. raised its stake in Herc by 79.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,558 shares of the transportation company's stock valued at $35,321,000 after purchasing an additional 82,834 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Herc by 26.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,271 shares of the transportation company's stock valued at $809,000 after acquiring an additional 885 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Herc by 12.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock worth $527,000 after acquiring an additional 315 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Herc by 39.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,972 shares of the transportation company's stock worth $752,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Herc by 1.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,628 shares of the transportation company's stock valued at $4,663,000 after buying an additional 249 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Stock Performance

NYSE HRI traded down $4.23 on Thursday, hitting $111.93. 443,707 shares of the company's stock traded hands, compared to its average volume of 636,870. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. The firm has a market capitalization of $3.72 billion, a PE ratio of 130.15, a P/E/G ratio of 1.37 and a beta of 1.86. The firm's 50-day moving average price is $127.86 and its two-hundred day moving average price is $139.25.

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

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 2.5%. Herc's payout ratio is 325.58%.

Analysts Set New Price Targets

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