Hennessy Advisors Inc. Has $40.69 Million Holdings in Herc Holdings Inc. (NYSE:HRI)

Hennessy Advisors Inc. lowered its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,059 shares of the transportation company's stock after selling 29,600 shares during the period. Herc makes up 1.4% of Hennessy Advisors Inc.'s holdings, making the stock its 19th biggest holding. Hennessy Advisors Inc. owned approximately 1.06% of Herc worth $40,692,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HRI. Vanguard Group Inc. increased its holdings in shares of Herc by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock valued at $580,655,000 after acquiring an additional 27,578 shares during the period. Capital World Investors boosted its position in Herc by 435.8% during the fourth quarter. Capital World Investors now owns 1,419,015 shares of the transportation company's stock worth $268,662,000 after purchasing an additional 1,154,182 shares in the last quarter. FMR LLC raised its stake in shares of Herc by 69.0% during the 4th quarter. FMR LLC now owns 1,245,168 shares of the transportation company's stock worth $235,748,000 after buying an additional 508,359 shares during the last quarter. Norges Bank acquired a new stake in shares of Herc in the fourth quarter valued at approximately $183,786,000. Finally, American Century Companies Inc. increased its position in Herc by 0.8% during the fourth quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company's stock worth $153,787,000 after buying an additional 6,777 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group reiterated a "buy" rating and issued a $146.00 target price (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Barclays reduced their target price on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lowered their price objective on Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Citigroup decreased their price objective on shares of Herc from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their target price on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Herc presently has an average rating of "Moderate Buy" and an average price target of $139.20.

Herc Price Performance

HRI traded down $1.64 during midday trading on Tuesday, reaching $111.22. 506,620 shares of the company's stock were exchanged, compared to its average volume of 506,495. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.61 and a beta of 1.88. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. The business has a 50-day simple moving average of $120.71 and a two-hundred day simple moving average of $156.68.

Herc (NYSE:HRI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $841.67 million. During the same period last year, the business posted $2.36 EPS. As a group, research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 2.52%. Herc's payout ratio is 62.36%.

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.