Greenland Capital Management LP Invests $1.15 Million in Herc Holdings Inc. $HRI

Key Points

• Greenland Capital Management initiated an $1.15 million position in Herc Holdings by purchasing 8,000 shares during the second quarter. Institutional investors collectively own 93.11% of HRI.
• Analysts maintain a “Moderate Buy” consensus, with five Buy and four Hold ratings and an average price target of $183, above the reported share price of $141.01.
• Herc exceeded quarterly earnings expectations, reporting $1.43 EPS versus $0.76 expected and $1.20 billion in revenue, up 20.2% year over year. The company also declared a quarterly dividend of $0.70 per share, representing a 2.0% annualized yield.

Greenland Capital Management LP purchased a new position in Herc Holdings Inc. (NYSE:HRI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,000 shares of the transportation company's stock, valued at approximately $1,147,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Herc in the 4th quarter worth $287,269,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Herc by 86,823.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company's stock valued at $198,108,000 after purchasing an additional 1,333,602 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Herc during the second quarter valued at approximately $86,054,000. Freestone Grove Partners LP increased its stake in shares of Herc by 667.9% in the 4th quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company's stock worth $85,044,000 after purchasing an additional 498,511 shares in the last quarter. Finally, Invesco Ltd. increased its position in Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company's stock worth $481,040,000 after buying an additional 413,719 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BNP Paribas Exane increased their price objective on shares of Herc from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Citigroup lifted their price objective on Herc from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. KeyCorp boosted their target price on shares of Herc from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Herc from $176.00 to $218.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Herc from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $183.00.

Herc Stock Performance

Shares of HRI stock opened at $141.01 on Monday. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 95.93, a PEG ratio of 19.57 and a beta of 1.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22. Herc Holdings Inc. has a 52-week low of $88.45 and a 52-week high of $188.35. The company's 50 day moving average is $153.56 and its 200 day moving average is $135.97.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.67. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.16 billion. Herc had a return on equity of 10.33% and a net margin of 1.01%.The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 EPS. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 6.93 EPS for the current fiscal year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. Herc's dividend payout ratio is presently 190.48%.

Herc Profile

Herc Holdings Inc NYSE: HRI operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company's fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.

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