RedJay Asset Management Inc. Has $2.62 Million Stake in Herc Holdings Inc. (NYSE:HRI)

RedJay Asset Management Inc. cut its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 64.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,500 shares of the transportation company's stock after selling 35,500 shares during the quarter. Herc makes up approximately 1.4% of RedJay Asset Management Inc.'s portfolio, making the stock its 27th largest holding. RedJay Asset Management Inc. owned 0.07% of Herc worth $2,618,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp increased its position in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock worth $35,000 after purchasing an additional 167 shares during the last quarter. Quarry LP lifted its stake in shares of Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after purchasing an additional 194 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Herc by 53.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after purchasing an additional 80 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Herc during the 4th quarter worth approximately $59,000. Finally, PNC Financial Services Group Inc. raised its holdings in Herc by 54.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock valued at $70,000 after buying an additional 130 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HRI has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "buy" rating and set a $146.00 target price (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target 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. Barclays decreased their target price on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and set a $140.00 target price (up from $130.00) on shares of Herc in a report on Tuesday, June 24th. Finally, Robert W. Baird decreased their price target on shares of Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $139.20.

Herc Stock Performance

Herc stock traded up $2.30 during midday trading on Wednesday, reaching $140.87. 307,133 shares of the stock traded hands, compared to its average volume of 507,167. 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 firm has a fifty day moving average price of $121.95 and a two-hundred day moving average price of $149.62. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.72 and a beta of 1.87. 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 released its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.21). The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $841.67 million. Herc had a net margin of 3.53% and a return on equity of 24.10%. During the same period in the prior year, the company earned $2.36 earnings per share. On average, equities research analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio is currently 62.36%.

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.