Hennessy Advisors Inc. Sells 30,100 Shares of Herc Holdings Inc. $HRI

Key Points

• Hennessy Advisors Inc. has reduced its stake in Herc Holdings Inc. by 9.9%, selling 30,100 shares which leaves them with 272,959 shares, representing about 1.2% of their portfolio.
• Several hedge funds have increased their positions in Herc, with Vanguard Group Inc. and Invesco Ltd. making significant purchases in the first quarter.
• Herc announced a quarterly dividend of $0.70, resulting in an annualized yield of 2.2%, despite a high payout ratio of 325.58%.

Hennessy Advisors Inc. reduced its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,959 shares of the transportation company's stock after selling 30,100 shares during the quarter. Herc comprises about 1.2% of Hennessy Advisors Inc.'s portfolio, making the stock its 19th largest position. Hennessy Advisors Inc. owned about 0.96% of Herc worth $35,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Herc by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after buying an additional 96,329 shares during the period. Invesco Ltd. grew its holdings in shares of Herc by 104.7% during the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after purchasing an additional 1,527,244 shares during the last quarter. Coliseum Capital Management LLC grew its holdings in shares of Herc by 213.4% during the 1st quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock valued at $175,892,000 after purchasing an additional 891,979 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Herc by 14.9% during the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after purchasing an additional 120,938 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Herc by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock valued at $110,796,000 after purchasing an additional 92,019 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Baird R W raised shares of Herc from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Herc in a report on Saturday, September 27th. Citigroup decreased their price target on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Finally, Robert W. Baird set a $160.00 target price on shares of Herc and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Herc has an average rating of "Moderate Buy" and an average price target of $149.20.

Herc Stock Up 4.2%

NYSE:HRI opened at $128.87 on Friday. The firm's 50 day simple moving average is $124.93 and its 200 day simple moving average is $126.06. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88. The company has a market cap of $4.28 billion, a PE ratio of 149.85, a P/E/G ratio of 1.45 and a beta of 1.81.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping the consensus estimate 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%. On average, research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a $0.70 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. Herc's payout ratio is 325.58%.

Herc Company 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.

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