Envestnet Asset Management Inc. Buys 5,554 Shares of Herc Holdings Inc. (NYSE:HRI)

Key Points

• Envestnet Asset Management Inc. increased its stake in Herc Holdings Inc. by 22.6%, acquiring an additional 5,554 shares to own a total of 30,182 shares, valued at approximately $4.05 million.
• Several other institutional investors also expanded their positions in Herc during the fourth quarter, including Capital World Investors, which boosted its holdings by 435.8%.
• Herc reported a quarterly earnings miss, with earnings per share of $1.30, falling short of analyst expectations of $2.51, despite revenue exceeding estimates at $861 million.

Envestnet Asset Management Inc. increased its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 22.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,182 shares of the transportation company's stock after acquiring an additional 5,554 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Herc worth $4,053,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of HRI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Herc in the 1st quarter valued at approximately $11,259,000. D.A. Davidson & CO. boosted its stake in shares of Herc by 9.6% in the 1st quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company's stock valued at $5,270,000 after purchasing an additional 3,435 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Herc by 8.0% in the 1st quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock valued at $907,000 after purchasing an additional 500 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Herc by 1,221.2% in the 4th quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock valued at $7,712,000 after purchasing an additional 37,649 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of Herc by 12.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock valued at $527,000 after purchasing an additional 315 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HRI has been the topic of a number of research analyst reports. Citigroup restated a "buy" rating and issued a $140.00 price target (up from $130.00) on shares of Herc in a research note on Tuesday, June 24th. JPMorgan Chase & Co. cut their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group reiterated a "buy" rating and set a $146.00 target price (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Robert W. Baird cut their target price on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays cut their target price 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $139.20.

Herc Trading Down 0.7%

Shares of NYSE:HRI traded down $1.10 during mid-day trading on Monday, hitting $147.98. The company had a trading volume of 226,677 shares, compared to its average volume of 509,574. The company has a market capitalization of $4.22 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 3.74 and a beta of 1.86. The firm has a fifty day moving average price of $129.54 and a 200 day moving average price of $143.28. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.50 and a quick ratio of 1.50. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88.

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio (DPR) is currently 62.36%.

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.