Herc Holdings Inc. $HRI Shares Sold by Great Lakes Advisors LLC

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 lessened its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 52.4% in the 1st quarter, according to the company in 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 period. Great Lakes Advisors LLC owned approximately 0.05% of Herc worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Herc by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock worth $424,726,000 after purchasing an additional 96,329 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Herc by 104.7% during the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock worth $400,995,000 after purchasing an additional 1,527,244 shares during the last quarter. Coliseum Capital Management LLC raised its holdings in shares of Herc by 213.4% during the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock worth $175,892,000 after purchasing an additional 891,979 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Herc by 14.9% during the first quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after purchasing an additional 120,938 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Herc by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after purchasing an additional 92,019 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

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

Herc Trading Down 0.5%

Shares of Herc stock traded down $0.60 on Tuesday, reaching $128.61. The company had a trading volume of 69,966 shares, compared to its average volume of 508,870. The firm's 50 day moving average price is $129.60 and its two-hundred day moving average price is $126.59. The firm has a market cap of $4.28 billion, a PE ratio of 149.55, a PEG ratio of 1.49 and a beta of 1.83. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week 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 released its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.58. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $868.23 million. Herc had a net margin of 0.61% and a return on equity of 20.77%. Sell-side analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 22nd. Herc's 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.