Jump Financial LLC Boosts Holdings in Herc Holdings Inc. $HRI

Key Points

• Jump Financial LLC significantly increased its stake in Herc Holdings Inc. by 401.7% during the first quarter, acquiring a total of 30,412 shares now valued at $4.08 million.
• Herc Holdings recently reported earnings per share of $1.87 for the quarter, surpassing estimates, with revenue reaching $1 billion compared to expectations of $868.23 million.
• The company announced a quarterly dividend of $0.70 per share, marking a yield of 2.1%, with a payout ratio currently at 325.58%.

Jump Financial LLC raised its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 401.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,412 shares of the transportation company's stock after acquiring an additional 24,350 shares during the period. Jump Financial LLC owned about 0.11% of Herc worth $4,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Herc by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after acquiring an additional 96,329 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Herc by 104.7% in the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock worth $400,995,000 after purchasing an additional 1,527,244 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Herc by 14.9% in the first quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after purchasing an additional 120,938 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Herc by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after purchasing an additional 92,019 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in shares of Herc by 27.7% in the first quarter. Channing Capital Management LLC now owns 535,578 shares of the transportation company's stock worth $71,912,000 after purchasing an additional 116,233 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Herc Trading Up 0.1%

HRI stock traded up $0.10 on Thursday, reaching $132.70. The company's stock had a trading volume of 214,251 shares, compared to its average volume of 459,868. The business has a fifty day simple moving average of $129.87 and a two-hundred day simple moving average of $130.93. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The firm has a market cap of $4.41 billion, a PE ratio of 154.30, a PEG ratio of 1.56 and a beta of 1.86. 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 announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. As a group, research analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.1%. Herc's dividend payout ratio (DPR) is currently 325.58%.

Wall Street Analyst Weigh In

HRI has been the topic of several recent analyst reports. Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Robert W. Baird cut their target price on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.60.

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.