Gabelli Funds LLC Has $57.43 Million Stock Position in Herc Holdings Inc. $HRI

Key Points

• Gabelli Funds LLC raised its stake in Herc Holdings by 8.9% in Q3, now owning 492,250 shares (about 1.48% of the company) valued at approximately $57.43 million.
• Herc reported Q results with $2.07 EPS beating estimates and revenue up 27.1% year-over-year (though slightly under consensus); the company pays a $0.70 quarterly dividend (2.3% yield) despite a negative P/E and an anomalous dividend payout ratio, and analysts hold a consensus "Moderate Buy" with an average price target of $178.29.

Gabelli Funds LLC increased its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 8.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 492,250 shares of the transportation company's stock after purchasing an additional 40,304 shares during the period. Gabelli Funds LLC owned 1.48% of Herc worth $57,426,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HRI. Harbor Capital Advisors Inc. raised its stake in Herc by 53.1% in the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company's stock valued at $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Herc in the third quarter valued at approximately $31,000. AlphaQuest LLC boosted its stake in shares of Herc by 158.2% during the 2nd quarter. AlphaQuest LLC now owns 364 shares of the transportation company's stock worth $48,000 after acquiring an additional 223 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Herc by 114.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company's stock worth $77,000 after acquiring an additional 312 shares during the period. Finally, CX Institutional acquired a new position in shares of Herc during the 3rd quarter worth approximately $86,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Price Performance

Shares of NYSE HRI opened at $120.30 on Friday. The firm has a market cap of $4.01 billion, a P/E ratio of -668.33, a price-to-earnings-growth ratio of 17.77 and a beta of 1.73. The business's 50 day moving average is $156.54 and its 200-day moving average is $141.57. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 4.17. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $188.35.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $3.58 EPS. The firm's quarterly revenue was up 27.1% on a year-over-year basis. Equities research analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.3%. Herc's dividend payout ratio (DPR) is currently -1,555.56%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HRI. Citigroup dropped their price target on Herc from $195.00 to $185.00 and set a "buy" rating on the stock in a research note on Thursday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Herc from $150.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 14th. Barclays upped their price objective on shares of Herc from $160.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. Robert W. Baird dropped their price objective on shares of Herc from $200.00 to $198.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 18th. Finally, KeyCorp cut their target price on shares of Herc from $200.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Herc presently has a consensus rating of "Moderate Buy" and an average price target of $178.29.

About Herc

Herc Holdings Inc NYSE: HRI operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company's fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.

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