Herc Holdings Inc. $HRI Holdings Decreased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Herc Holdings Inc. by 92.0%, leaving it with 7,526 shares valued at approximately $1,011,000.
• Several institutional investors have increased their holdings in Herc, with Larson Financial Group LLC raising its stake by an impressive 1,831.3%.
• Herc's quarterly earnings surpassed analyst expectations, reporting $1.87 earnings per share against estimates of $1.29, with a revenue of $1 billion.

Voya Investment Management LLC reduced its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 92.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,526 shares of the transportation company's stock after selling 86,550 shares during the quarter. Voya Investment Management LLC's holdings in Herc were worth $1,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after purchasing an additional 293 shares in the last quarter. Caption Management LLC bought a new stake in shares of Herc during the first quarter valued at about $91,000. New Age Alpha Advisors LLC bought a new stake in shares of Herc during the first quarter valued at about $118,000. CWM LLC raised its stake in shares of 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 in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Herc during the first quarter valued at about $195,000. 93.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HRI shares. Robert W. Baird cut their price objective on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Citigroup lowered their target price on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.60.

Herc Trading Down 0.2%

Shares of HRI opened at $124.14 on Wednesday. The business's 50-day moving average price is $127.72 and its 200 day moving average price is $126.39. The stock has a market capitalization of $4.13 billion, a P/E ratio of 144.34, a P/E/G ratio of 1.46 and a beta of 1.83. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. 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 (NYSE:HRI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. Analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.3%. Herc's dividend payout ratio (DPR) is currently 325.58%.

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.

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