Herc Holdings Inc. $HRI Shares Sold by Electron Capital Partners LLC

Key Points

• Electron Capital Partners LLC significantly reduced its holdings in Herc Holdings by 96.5%, selling 328,894 shares and leaving it with only 12,055 shares.
• Herc Holdings recently announced a quarterly dividend of $0.70 per share, representing an annual yield of 2.2%, set to be paid on September 5th.
• Herc Holdings reported quarterly earnings of $1.87 EPS, exceeding estimates, with revenue of $1 billion compared to the anticipated $868.23 million.

Electron Capital Partners LLC reduced its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 96.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,055 shares of the transportation company's stock after selling 328,894 shares during the quarter. Herc accounts for 0.1% of Electron Capital Partners LLC's portfolio, making the stock its 29th largest position. Electron Capital Partners LLC's holdings in Herc were worth $1,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Herc by 1,831.3% in 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Herc in the fourth quarter valued at $59,000. Caption Management LLC purchased a new position in shares of Herc in the first quarter valued at $91,000. New Age Alpha Advisors LLC purchased a new position in shares of Herc in the first quarter valued at $118,000. Finally, CWM LLC boosted its stake 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 during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Herc from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Citigroup reduced their price objective on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Robert W. Baird reduced their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $144.60.

Herc Stock Performance

Shares of NYSE:HRI traded down $0.87 on Monday, reaching $137.60. 455,991 shares of the company's stock were exchanged, compared to its average volume of 513,737. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 160.00, a PEG ratio of 1.63 and a beta of 1.83. Herc Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88. The business's 50-day moving average is $130.62 and its two-hundred day moving average is $127.37. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37.

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

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 22nd. Herc's dividend payout ratio is 325.58%.

About Herc

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.