Hengistbury Investment Partners LLP Buys New Stake in Herc Holdings Inc. (NYSE:HRI)

Key Points

• Hengistbury Investment Partners LLP invested $10.07 million in Herc Holdings Inc., acquiring approximately 75,000 shares, which now represent 5.8% of Hengistbury's holdings.
• Herc recently announced a quarterly dividend of $0.70, yielding 2.5%, despite a high payout ratio of 325.58%.
• The company reported earnings per share of $1.87, exceeding analyst expectations, with revenue of $1 billion against a projected $868.23 million.

Hengistbury Investment Partners LLP purchased a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 75,000 shares of the transportation company's stock, valued at approximately $10,070,000. Herc makes up 5.8% of Hengistbury Investment Partners LLP's investment portfolio, making the stock its 5th largest position. Hengistbury Investment Partners LLP owned 0.26% of Herc as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in HRI. Larson Financial Group LLC boosted its stake in shares of Herc by 1,831.3% during the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after acquiring an additional 293 shares in the last quarter. Quarry LP lifted its holdings in Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after purchasing an additional 194 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Herc during the fourth quarter worth approximately $59,000. New Age Alpha Advisors LLC bought a new stake in Herc during the first quarter worth approximately $118,000. Finally, CWM LLC grew its holdings in Herc by 114.4% during the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock valued at $140,000 after purchasing an additional 556 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Stock Performance

NYSE:HRI traded down $1.06 during trading hours on Friday, hitting $110.44. 336,666 shares of the company traded hands, compared to its average volume of 631,069. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The firm has a 50-day moving average of $127.59 and a 200 day moving average of $138.57. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 128.42, a P/E/G ratio of 1.31 and a beta of 1.86.

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

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.5%. Herc's dividend payout ratio is presently 325.58%.

Analyst Upgrades and Downgrades

HRI has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. 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 report on Thursday, April 24th. The Goldman Sachs Group reiterated a "buy" rating and issued a $146.00 price objective (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.