Intech Investment Management LLC Acquires 4,971 Shares of Herc Holdings Inc. $HRI

Key Points

• Intech Investment Management LLC increased its stake in Herc Holdings Inc. by 42.2%, owning a total of 16,738 shares worth $2.25 million by the end of the last reporting period.
• Herc Holdings reported $1.87 EPS for the last quarter, significantly above the consensus estimate of $1.29, demonstrating strong financial performance with revenue of $1 billion.
• The company declared a quarterly dividend of $0.70 per share, resulting in an annualized yield of 2.2%, although it has a high dividend payout ratio of 325.58%.

Intech Investment Management LLC raised its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,738 shares of the transportation company's stock after acquiring an additional 4,971 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Herc worth $2,247,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Herc by 3.1% in the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock worth $424,726,000 after acquiring an additional 96,329 shares during the period. Invesco Ltd. lifted its holdings in shares of Herc by 104.7% in the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock worth $400,995,000 after acquiring an additional 1,527,244 shares during the last quarter. Coliseum Capital Management LLC lifted its holdings in Herc by 213.4% during the 1st quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock worth $175,892,000 after buying an additional 891,979 shares in the last quarter. American Century Companies Inc. lifted its holdings in Herc by 14.9% during the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after buying an additional 120,938 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Herc by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after buying an additional 92,019 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Stock Down 7.2%

Herc stock traded down $9.20 during trading on Friday, hitting $119.06. 1,280,711 shares of the company were exchanged, compared to its average volume of 395,737. The business's 50 day moving average is $128.13 and its 200 day moving average is $126.52. 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 52 week low of $96.18 and a 52 week high of $246.88. The company has a market capitalization of $3.96 billion, a P/E ratio of 138.44, a PEG ratio of 1.51 and a beta of 1.83.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The business 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 predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.70 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.4%. Herc's payout ratio is 325.58%.

Wall Street Analysts Forecast Growth

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

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.