Envestnet Asset Management Inc. Has $4.05 Million Holdings in 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. grew its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,182 shares of the transportation company's stock after buying an additional 5,554 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Herc worth $4,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. raised its position 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 buying an additional 3,435 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Herc by 71.5% in the 1st quarter. Principal Financial Group Inc. now owns 52,290 shares of the transportation company's stock valued at $7,021,000 after buying an additional 21,808 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Herc in the 1st quarter valued at approximately $530,000. Cannon Global Investment Management LLC raised its position in shares of Herc by 33.3% in the 1st quarter. Cannon Global Investment Management LLC now owns 2,000 shares of the transportation company's stock valued at $269,000 after buying an additional 500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Herc in the 1st quarter valued at approximately $11,259,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Trading Down 12.6%

Shares of HRI stock traded down $18.85 during trading hours on Tuesday, hitting $131.03. 302,967 shares of the company's stock traded hands, compared to its average volume of 511,403. The stock's 50 day simple moving average is $129.81 and its 200 day simple moving average is $143.08. The stock has a market cap of $3.73 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 3.74 and a beta of 1.86. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $246.88. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.04.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.58. Herc had a net margin of 3.53% and a return on equity of 24.10%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $868.23 million. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio (DPR) is presently 62.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HRI shares. Citigroup restated a "buy" rating and issued a $140.00 target price (up from $130.00) on shares of Herc in a research report on Tuesday, June 24th. Robert W. Baird lowered their price objective on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "buy" rating and set a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Barclays lowered their price objective on shares of Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.20.

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.