Northern Trust Corp Has $38.31 Million Stock Position in Herc Holdings Inc. $HRI

Key Points

• Northern Trust Corp reduced its stake in Herc Holdings Inc. by 2.7%, owning approximately 285,300 shares worth $38.3 million after selling 7,916 shares in Q1.
• Herc Holdings announced a quarterly dividend of $0.70 per share with a dividend yield of 2.1%, payable on September 5th to shareholders of record as of August 22nd.
• The company's recent earnings report showed $1.87 EPS, exceeding estimates, and revenues of $1 billion, significantly surpassing the forecast of $868.23 million.

Northern Trust Corp reduced its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,300 shares of the transportation company's stock after selling 7,916 shares during the period. Northern Trust Corp owned about 1.00% of Herc worth $38,307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HRI. Larson Financial Group LLC lifted its stake in Herc by 1,831.3% in the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after acquiring an additional 293 shares in the last quarter. Quarry LP lifted its stake in Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after acquiring an additional 194 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Herc in the 4th quarter worth about $59,000. New Age Alpha Advisors LLC acquired a new position in Herc in the 1st quarter worth about $118,000. Finally, CWM LLC increased its position in Herc by 114.4% in the 1st quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after purchasing an additional 556 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Herc Stock Down 1.8%

Shares of NYSE HRI traded down $2.37 during mid-day trading on Wednesday, reaching $129.23. 59,509 shares of the company traded hands, compared to its average volume of 513,802. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $4.30 billion, a PE ratio of 150.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.83. The company's fifty day moving average is $130.51 and its two-hundred day moving average is $128.93. Herc Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88.

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

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. Herc's dividend payout ratio is currently 325.58%.

Herc 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.