Jennison Associates LLC Increases Position in Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC lifted its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 79.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 299,527 shares of the transportation company's stock after buying an additional 132,693 shares during the period. Jennison Associates LLC owned about 1.05% of Herc worth $40,217,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HRI. Larson Financial Group LLC increased its stake in Herc by 1,831.3% in the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock valued at $41,000 after purchasing an additional 293 shares in the last quarter. Quarry LP grew its position in Herc by 646.7% in the fourth 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. boosted its stake 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 buying an additional 80 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Herc in the fourth quarter valued at about $59,000. Finally, PNC Financial Services Group Inc. raised its holdings in Herc by 54.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock worth $70,000 after acquiring an additional 130 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HRI. Robert W. Baird lowered their price target on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Barclays reduced their target price on Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group reissued a "buy" rating and issued a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Finally, Citigroup restated a "buy" rating and issued a $140.00 price target (up from $130.00) on shares of Herc in a report on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Herc has a consensus rating of "Moderate Buy" and a consensus price target of $139.20.

Herc Trading Up 2.2%

Herc stock traded up $2.91 during mid-day trading on Wednesday, hitting $136.67. The company's stock had a trading volume of 83,996 shares, compared to its average volume of 508,879. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 3.17 and a beta of 1.86. The business has a 50 day moving average price of $129.16 and a 200-day moving average price of $144.85. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.50 and a quick ratio of 1.50. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $246.88.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results 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). The firm had revenue of $861.00 million for the quarter, compared to analysts' expectations of $841.67 million. Herc had a return on equity of 24.10% and a net margin of 3.53%. During the same quarter in the prior year, the company posted $2.36 earnings per share. As a group, analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, May 30th. Herc's payout ratio is 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.