GAMMA Investing LLC lifted its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 9,676.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,429 shares of the transportation company's stock after buying an additional 41,995 shares during the period. GAMMA Investing LLC owned approximately 0.15% of Herc worth $56,970,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in Herc during the 4th quarter worth $5,377,000. Millennium Management LLC boosted its stake in Herc by 1,221.2% during the 4th quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock worth $7,712,000 after purchasing an additional 37,649 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Herc by 12.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock worth $527,000 after purchasing an additional 315 shares during the period. Barclays PLC boosted its stake in Herc by 49.5% during the 3rd quarter. Barclays PLC now owns 52,058 shares of the transportation company's stock worth $8,299,000 after purchasing an additional 17,236 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Herc during the 4th quarter worth $2,359,000. 93.11% of the stock is owned by hedge funds and other institutional investors.
Herc Stock Performance
Shares of HRI stock traded down $0.97 during mid-day trading on Wednesday, hitting $119.70. The stock had a trading volume of 475,661 shares, compared to its average volume of 387,774. Herc Holdings Inc. has a fifty-two week low of $96.19 and a fifty-two week high of $246.88. The firm has a market cap of $3.41 billion, a PE ratio of 16.15, a PEG ratio of 1.61 and a beta of 1.85. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The company's 50-day simple moving average is $122.24 and its 200-day simple moving average is $163.70.
Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). The company had revenue of $861.00 million during the quarter, compared to analysts' expectations of $841.67 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. During the same quarter in the prior year, the business earned $2.36 EPS. 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, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a yield of 2.34%. Herc's dividend payout ratio (DPR) is currently 62.36%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on HRI. Citigroup decreased their price target on shares of Herc from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays decreased their price target on shares of Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group restated a "buy" rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, Robert W. Baird reduced their target price on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $139.20.
Read Our Latest Stock Analysis on HRI
About Herc
(
Free Report)
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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