Federation des caisses Desjardins du Quebec Buys 3,500 Shares of Herc Holdings Inc. $HRI

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Herc Holdings Inc. by 50.1% in the first quarter, acquiring an additional 3,500 shares valued at approximately $1,407,000.
• Herc Holdings recently reported earnings of $1.87 per share, significantly surpassing analyst expectations of $1.29, with revenue hitting $1 billion for the quarter.
• The company declared a quarterly dividend of $0.70 per share, which represents a 2.0% yield and highlights a high dividend payout ratio of 325.58%.

Federation des caisses Desjardins du Quebec raised its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 50.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,480 shares of the transportation company's stock after purchasing an additional 3,500 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Herc were worth $1,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HRI. Jane Street Group LLC grew its stake in Herc by 26.7% in the fourth quarter. Jane Street Group LLC now owns 17,762 shares of the transportation company's stock valued at $3,363,000 after purchasing an additional 3,739 shares in the last quarter. FORA Capital LLC bought a new position in Herc in the fourth quarter valued at approximately $243,000. Ethic Inc. bought a new position in Herc in the fourth quarter valued at approximately $273,000. Ensign Peak Advisors Inc boosted its stake in shares of Herc by 22.1% during the 4th quarter. Ensign Peak Advisors Inc now owns 12,075 shares of the transportation company's stock worth $2,286,000 after acquiring an additional 2,184 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Herc by 97.0% during the 4th quarter. Lazard Asset Management LLC now owns 12,805 shares of the transportation company's stock worth $2,423,000 after acquiring an additional 6,304 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on HRI. Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Citigroup dropped their price objective on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Robert W. Baird dropped their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Herc currently has a consensus rating of "Moderate Buy" and an average target price of $144.60.

Herc Stock Performance

NYSE:HRI opened at $138.51 on Monday. The stock has a market cap of $4.60 billion, a P/E ratio of 161.06, a PEG ratio of 1.63 and a beta of 1.83. The stock has a 50 day simple moving average of $130.62 and a 200 day simple moving average of $127.37. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88.

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 for the quarter, topping the consensus estimate of $1.29 by $0.58. The business had revenue of $1 billion during 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%. Research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 22nd. Herc's dividend payout ratio (DPR) is presently 325.58%.

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.

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