Herc Holdings Inc. $HRI Position Increased by Tema Etfs LLC

Key Points

• Tema Etfs LLC has significantly increased its stake in Herc Holdings Inc. by 165.9%, now owning 59,479 shares valued at approximately $7.99 million.
• Herc Holdings recently reported a quarterly earnings per share of $1.87, exceeding analysts' expectations of $1.29.
• The company has announced a $0.70 quarterly dividend, marking a yield of 2.1%, with a high dividend payout ratio of 325.58%.

Tema Etfs LLC increased its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 165.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,479 shares of the transportation company's stock after purchasing an additional 37,110 shares during the period. Herc accounts for 2.4% of Tema Etfs LLC's portfolio, making the stock its 11th largest position. Tema Etfs LLC owned approximately 0.21% of Herc worth $7,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quarry LP raised its stake in Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after acquiring an additional 194 shares in the last quarter. Larson Financial Group LLC raised its stake in Herc by 1,831.3% during the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after acquiring an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Herc during the 4th quarter valued at $59,000. New Age Alpha Advisors LLC bought a new stake in Herc during the 1st quarter valued at $118,000. Finally, CWM LLC raised its stake in Herc by 114.4% during the 1st quarter. CWM LLC now owns 1,042 shares of the transportation company's stock valued at $140,000 after acquiring an additional 556 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

Herc Stock Performance

Shares of HRI stock opened at $132.71 on Thursday. 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. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 154.32, a P/E/G ratio of 1.51 and a beta of 1.86. The stock's fifty day simple moving average is $129.45 and its 200-day simple moving average is $131.41.

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, beating analysts' consensus estimates of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%.The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $868.23 million. On average, sell-side analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 22nd. Herc's dividend payout ratio is presently 325.58%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HRI. Robert W. Baird cut their target price on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Citigroup dropped their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Herc 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.

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