Gamco Investors INC. ET AL Sells 32,903 Shares of Herc Holdings Inc. $HRI

Key Points

• Gamco Investors INC. ET AL reduced its stake in Herc Holdings Inc. by 2.9%, owning approximately 1,088,202 shares valued at $146.11 million, making it its 5th largest position.
• Herc Holdings Inc. reported earnings of $1.87 per share, exceeding analysts' expectations, with revenue of $1 billion compared to estimates of $868.23 million.
• The company announced a quarterly dividend of $0.70 per share, with a yield of 2.1% and a payout ratio of 325.58%.

Gamco Investors INC. ET AL reduced its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,088,202 shares of the transportation company's stock after selling 32,903 shares during the period. Herc accounts for about 1.6% of Gamco Investors INC. ET AL's holdings, making the stock its 5th biggest holding. Gamco Investors INC. ET AL owned 3.82% of Herc worth $146,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Herc by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after purchasing an additional 96,329 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Herc by 104.7% in the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after purchasing an additional 1,527,244 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Herc by 14.9% in the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after purchasing an additional 120,938 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Herc by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock valued at $110,796,000 after purchasing an additional 92,019 shares during the last quarter. Finally, Channing Capital Management LLC lifted its holdings in shares of Herc by 27.7% in the 1st quarter. Channing Capital Management LLC now owns 535,578 shares of the transportation company's stock valued at $71,912,000 after purchasing an additional 116,233 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Stock Performance

HRI traded up $0.10 on Thursday, hitting $132.70. 214,251 shares of the company traded hands, compared to its average volume of 459,868. The company has a 50 day moving average of $129.87 and a 200-day moving average of $130.93. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The stock has a market capitalization of $4.41 billion, a PE ratio of 154.30, a PEG ratio of 1.56 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.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $868.23 million. Sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.1%. Herc's payout ratio is presently 325.58%.

Analyst Ratings Changes

Several analysts have commented on HRI shares. Robert W. Baird reduced their price objective on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Citigroup reduced their price objective on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Herc currently has an average rating of "Moderate Buy" and an average target price of $144.60.

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.