Graham Capital Management L.P. Purchases 5,275 Shares of Herc Holdings Inc. $HRI

Key Points

• Graham Capital Management L.P. significantly increased its stake in Herc Holdings Inc. by 62.2% in the first quarter, owning 13,757 shares worth approximately $1.85 million as of the latest SEC filing.
• Herc Holdings announced a quarterly dividend of $0.70, with a yield of 2.1%, while its dividend payout ratio stands at a high 325.58%.
• Herc's most recent earnings report showed it topped analysts' expectations, with $1.87 earnings per share against a consensus estimate of $1.29, accompanied by a revenue of $1 billion.

Graham Capital Management L.P. raised its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 62.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,757 shares of the transportation company's stock after acquiring an additional 5,275 shares during the quarter. Graham Capital Management L.P.'s holdings in Herc were worth $1,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Herc by 3.1% during 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 in the last quarter. Invesco Ltd. lifted 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 buying an additional 1,527,244 shares during the period. American Century Companies Inc. boosted its holdings in shares of Herc by 14.9% during the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after buying an additional 120,938 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Herc by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after buying an additional 92,019 shares during the period. Finally, Channing Capital Management LLC increased its stake 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 acquiring an additional 116,233 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HRI has been the topic of several research analyst reports. Robert W. Baird cut their target price on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. 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 report on Wednesday, July 30th. Finally, Zacks Research upgraded Herc from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Herc presently has a consensus rating of "Moderate Buy" and an average target price of $144.60.

Herc Stock Up 7.4%

Shares of Herc stock traded up $9.51 during trading hours on Friday, reaching $138.51. The company's stock had a trading volume of 520,375 shares, compared to its average volume of 514,071. The company has a market capitalization of $4.60 billion, a P/E ratio of 161.06, a P/E/G ratio of 1.49 and a beta of 1.83. The stock's fifty day simple moving average is $130.48 and its two-hundred day simple moving average is $128.41. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15.

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

Herc Dividend Announcement

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 $0.70 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.0%. Herc's dividend payout ratio is 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.