Great Lakes Advisors LLC Cuts Stock Holdings in Herc Holdings Inc. $HRI

Key Points

• Great Lakes Advisors LLC significantly reduced its stake in Herc Holdings Inc. by 52.4%, now holding approximately 15,513 shares worth $2,083,000 after selling 17,072 shares in Q1.
• Herc Holdings recently announced a quarterly dividend of $0.70, translating to an annualized yield of 2.1%, with a payout ratio of 325.58%.
• The company's stock has a current market cap of $4.43 billion and reported $1.87 EPS for the last quarter, exceeding analyst estimates.

Great Lakes Advisors LLC lowered its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 52.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,513 shares of the transportation company's stock after selling 17,072 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.05% of Herc worth $2,083,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HRI. Larson Financial Group LLC increased its position in shares of Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after purchasing an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Herc during the 4th quarter worth $59,000. Caption Management LLC purchased a new stake in shares of Herc during the first quarter worth $91,000. New Age Alpha Advisors LLC acquired a new stake in shares of Herc in the first quarter valued at about $118,000. Finally, CWM LLC lifted its stake in shares of Herc by 114.4% in the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after buying an additional 556 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Trading Down 0.3%

HRI opened at $133.25 on Thursday. The stock has a market capitalization of $4.43 billion, a PE ratio of 154.94, a P/E/G ratio of 1.57 and a beta of 1.83. 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. The business's 50 day moving average price is $130.42 and its 200 day moving average price is $127.28.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1 billion during the quarter, compared to analysts' expectations of $868.23 million. As a group, equities research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 22nd. Herc's payout ratio is 325.58%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Zacks Research raised shares of Herc from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Citigroup dropped their price target on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Finally, Robert W. Baird reduced their price objective on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Herc presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.60.

About Herc

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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