Herc Holdings Inc. $HRI Stake Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Herc Holdings stake by 73.8% in the third quarter to 25,200 shares valued at approximately $3.15 million. Institutional investors and hedge funds collectively own 93.11% of the company.
• Herc reported quarterly earnings of $3.91 per share, beating analyst estimates of $2.92, while revenue rose 4.6% year over year to $1.36 billion.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $201.57, compared with its reported price of $168.36.

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 73.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 25,200 shares of the transportation company's stock after buying an additional 10,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Herc worth $3,145,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Herc during the 2nd quarter worth about $68,000. State of Wyoming raised its position in shares of Herc by 21.0% during the 1st quarter. State of Wyoming now owns 616 shares of the transportation company's stock worth $61,000 after acquiring an additional 107 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Herc by 61.4% during the first quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company's stock worth $69,000 after purchasing an additional 264 shares during the last quarter. Nykredit A S purchased a new stake in Herc during the second quarter worth approximately $133,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in Herc by 67.5% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,414 shares of the transportation company's stock worth $176,000 after purchasing an additional 570 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Stock Up 1.6%

HRI opened at $168.36 on Tuesday. The company has a debt-to-equity ratio of 4.08, a quick ratio of 1.10 and a current ratio of 1.08. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 21.81 and a beta of 2.04. Herc Holdings Inc. has a one year low of $88.45 and a one year high of $188.35. The business's fifty day moving average is $139.44 and its two-hundred day moving average is $139.41.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The transportation company reported $3.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.99. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Herc had a return on equity of 13.21% and a net margin of 2.50%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $2.22 earnings per share. Analysts anticipate that Herc Holdings Inc. will post 7.87 EPS for the current fiscal year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 2nd. Herc's dividend payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HRI shares. BNP Paribas Exane increased their target price on shares of Herc from $165.00 to $176.00 and gave the company a "neutral" rating in a research report on Wednesday, October 28th. Zacks Research raised shares of Herc from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 14th. Wells Fargo & Company boosted their price target on shares of Herc from $176.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, October 28th. Citigroup upped their price objective on shares of Herc from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on Herc from $165.00 to $230.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.57.

Herc Company Profile

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power generation and climate-control equipment, pumps, and general tools.

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