Impax Asset Management Group plc Sells 246,104 Shares of Herc Holdings Inc. (NYSE:HRI)

Impax Asset Management Group plc lowered its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 87.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the transportation company's stock after selling 246,104 shares during the period. Impax Asset Management Group plc owned 0.12% of Herc worth $4,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Herc during the first quarter valued at approximately $11,259,000. Proficio Capital Partners LLC purchased a new position in shares of Herc in the fourth quarter valued at $5,377,000. Handelsbanken Fonder AB grew its holdings in shares of Herc by 8.0% in the first quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company's stock valued at $907,000 after purchasing an additional 500 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Herc by 1,221.2% in the fourth quarter. Millennium Management LLC now owns 40,732 shares of the transportation company's stock valued at $7,712,000 after purchasing an additional 37,649 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in shares of Herc by 12.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock valued at $527,000 after purchasing an additional 315 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on HRI shares. Barclays dropped their price objective on shares of Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $146.00 price objective (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price objective on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and set a $140.00 price objective (up from $130.00) on shares of Herc in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.20.

Herc Trading Down 4.7%

Shares of HRI traded down $6.75 during trading hours on Monday, reaching $137.87. 235,416 shares of the company traded hands, compared to its average volume of 406,306. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.88 and a beta of 1.86. Herc Holdings Inc. has a 12-month low of $96.19 and a 12-month high of $246.88. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.04. The stock's fifty day moving average price is $124.11 and its 200 day moving average price is $148.35.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). Herc had a return on equity of 24.10% and a net margin of 3.53%. The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $841.67 million. During the same period last year, the company earned $2.36 earnings per share. Sell-side analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio (DPR) is presently 62.36%.

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.