Eisler Capital Management Ltd. Takes $2.15 Million Position in Herc Holdings Inc. $HRI

Key Points

• Eisler Capital Management Ltd. has acquired a new stake in Herc Holdings Inc., purchasing 16,002 shares worth approximately $2.15 million, representing about 0.06% of the company.
• Several large investors, including Ieq Capital LLC and Gabelli Funds LLC, have also increased or established positions in Herc Holdings, indicating strong institutional interest.
• Herc Holdings recently reported strong quarterly earnings, with an EPS of $1.87 that exceeded estimates, and announced a quarterly dividend of $0.70 per share, with a yield of 2.1%.

Eisler Capital Management Ltd. bought a new stake in Herc Holdings Inc. (NYSE:HRI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,002 shares of the transportation company's stock, valued at approximately $2,153,000. Eisler Capital Management Ltd. owned approximately 0.06% of Herc at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Ieq Capital LLC acquired a new position in shares of Herc in the 1st quarter valued at $457,000. Gabelli Funds LLC increased its holdings in shares of Herc by 6.5% in the 1st quarter. Gabelli Funds LLC now owns 435,050 shares of the transportation company's stock valued at $58,414,000 after acquiring an additional 26,400 shares during the period. Ceredex Value Advisors LLC increased its holdings in shares of Herc by 103.0% in the 1st quarter. Ceredex Value Advisors LLC now owns 77,850 shares of the transportation company's stock valued at $10,453,000 after acquiring an additional 39,500 shares during the period. Oliver Luxxe Assets LLC acquired a new position in shares of Herc in the 1st quarter valued at $2,047,000. Finally, Jump Financial LLC increased its holdings in shares of Herc by 401.7% in the 1st quarter. Jump Financial LLC now owns 30,412 shares of the transportation company's stock valued at $4,083,000 after acquiring an additional 24,350 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HRI. Citigroup cut their target price 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. Robert W. Baird cut their target price 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $144.60.

Herc Price Performance

Shares of NYSE HRI opened at $132.71 on Thursday. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a fifty day moving average price of $129.45 and a 200 day moving average price of $131.41. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a market cap of $4.41 billion, a PE ratio of 154.32, a P/E/G ratio of 1.51 and a beta of 1.86.

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

Herc Announces Dividend

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

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.

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