Raymond James Financial Inc. Has $4.38 Million Stake in Herc Holdings Inc. $HRI

Key Points

• Raymond James Financial Inc. increased its stake in Herc Holdings Inc. by 111.0% in Q1, acquiring a total of 32,612 shares valued at approximately $4.38 million.
• Herc reported a quarterly earnings per share (EPS) of $1.87, surpassing estimates and generating revenues of $1 billion during the period.
• The company declared a quarterly dividend of $0.70 per share, representing an annual yield of 2.0%, despite a high dividend payout ratio of 325.58%.

Raymond James Financial Inc. increased its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 111.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 32,612 shares of the transportation company's stock after purchasing an additional 17,157 shares during the period. Raymond James Financial Inc. owned approximately 0.11% of Herc worth $4,379,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Xponance Inc. boosted its position in Herc by 5.1% in the 1st quarter. Xponance Inc. now owns 2,223 shares of the transportation company's stock valued at $298,000 after buying an additional 107 shares during the last quarter. Vista Finance LLC boosted its position in Herc by 8.0% in the 1st quarter. Vista Finance LLC now owns 1,590 shares of the transportation company's stock valued at $213,000 after buying an additional 118 shares during the last quarter. Bailard Inc. boosted its position in Herc by 7.0% in the 1st quarter. Bailard Inc. now owns 3,947 shares of the transportation company's stock valued at $530,000 after buying an additional 259 shares during the last quarter. Midwest Financial Group LLC boosted its position in Herc by 21.4% in the 1st quarter. Midwest Financial Group LLC now owns 1,603 shares of the transportation company's stock valued at $215,000 after buying an additional 283 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Herc by 1,831.3% in the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Analyst Ratings Changes

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

Herc Trading Down 2.9%

Herc stock traded down $3.85 during mid-day trading on Thursday, hitting $129.45. 458,274 shares of the company's stock were exchanged, compared to its average volume of 382,691. The firm has a market capitalization of $4.30 billion, a P/E ratio of 150.52, a PEG ratio of 1.57 and a beta of 1.83. Herc Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The company's 50 day simple moving average is $130.12 and its 200-day simple moving average is $127.12.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 20.77% and a net margin of 0.61%. On average, equities 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. Shareholders 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 annualized dividend and a dividend yield of 2.2%. Herc's dividend payout ratio (DPR) is currently 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.