Ieq Capital LLC Acquires Shares of 3,406 Herc Holdings Inc. $HRI

Key Points

• Ieq Capital LLC purchased 3,406 shares of Herc Holdings Inc. during Q1, valued at approximately $457,000.
• Herc Holdings reported a strong quarterly earnings of $1.87 per share, exceeding analysts' estimates of $1.29 by $0.58, with revenue of $1 billion.
• The company declared a quarterly dividend of $0.70 per share, reflecting a 2.2% yield and a high payout ratio of 325.58%.

Ieq Capital LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,406 shares of the transportation company's stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HRI. Invesco Ltd. lifted its holdings in Herc by 104.7% in the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after purchasing an additional 1,527,244 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Herc by 200.5% during the 1st quarter. Ameriprise Financial Inc. now owns 274,915 shares of the transportation company's stock valued at $36,913,000 after acquiring an additional 183,433 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Herc by 79.5% during the 1st quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company's stock valued at $40,217,000 after acquiring an additional 132,693 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Herc by 14.9% during the 1st quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock valued at $125,302,000 after acquiring an additional 120,938 shares during the last quarter. Finally, Channing Capital Management LLC increased its stake in shares of Herc by 27.7% during the 1st quarter. Channing Capital Management LLC now owns 535,578 shares of the transportation company's stock valued at $71,912,000 after acquiring an additional 116,233 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Trading Up 7.4%

HRI traded up $9.51 on Friday, reaching $138.51. 520,375 shares of the company's stock were exchanged, compared to its average volume of 380,677. The company's 50 day moving average is $130.62 and its 200-day moving average is $127.37. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 161.06, a PEG ratio of 1.63 and a beta of 1.83. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $868.23 million. Herc had a net margin of 0.61% and a return on equity of 20.77%. Equities analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.0%. Herc's dividend payout ratio (DPR) is 325.58%.

Wall Street Analysts Forecast Growth

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

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.