Gamco Investors INC. ET AL Cuts Stock Holdings in 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 decreased its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,088,202 shares of the transportation company's stock after selling 32,903 shares during the period. Herc makes up about 1.6% of Gamco Investors INC. ET AL's holdings, making the stock its 5th largest holding. Gamco Investors INC. ET AL owned 3.82% of Herc worth $146,113,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Herc by 3.1% in the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after acquiring an additional 96,329 shares during the last quarter. Invesco Ltd. increased its stake in Herc by 104.7% in the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after acquiring an additional 1,527,244 shares during the last quarter. American Century Companies Inc. increased its stake in Herc by 14.9% in the first quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after acquiring an additional 120,938 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Herc by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock valued at $110,796,000 after acquiring an additional 92,019 shares during the last quarter. Finally, Channing Capital Management LLC increased its stake in Herc by 27.7% in the first quarter. Channing Capital Management LLC now owns 535,578 shares of the transportation company's stock valued at $71,912,000 after acquiring an additional 116,233 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Herc Trading Down 1.5%

Shares of NYSE:HRI traded down $1.95 during trading on Friday, reaching $130.74. 280,922 shares of the company traded hands, compared to its average volume of 439,812. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 152.03, a P/E/G ratio of 1.54 and a beta of 1.86. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $246.88. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. The business's fifty day moving average is $130.19 and its 200-day moving average is $129.87.

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

Herc Announces Dividend

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

Wall Street Analyst Weigh In

HRI has been the topic of a number of research analyst reports. Citigroup reduced their target price on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Robert W. Baird reduced their target price on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Herc presently has an average rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Company 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.