Knights of Columbus Asset Advisors LLC Sells 1,830 Shares of Herc Holdings Inc. (NYSE:HRI)

Key Points

• Knights of Columbus Asset Advisors LLC has reduced its stake in Herc Holdings Inc. by 12.5%, selling 1,830 shares, which leaves them with a total of 12,767 shares valued at approximately $1.71 million.
• Institutional investors collectively own 93.11% of Herc's stock, with various firms making significant increases in their holdings recently.
• The company's recent earnings report revealed a substantial miss in earnings per share expectations, reporting $1.30 per share compared to the estimated $2.51.

Knights of Columbus Asset Advisors LLC lessened its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,767 shares of the transportation company's stock after selling 1,830 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Herc were worth $1,714,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Herc by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock worth $580,655,000 after acquiring an additional 27,578 shares during the last quarter. Capital World Investors boosted its position in Herc by 435.8% during the 4th quarter. Capital World Investors now owns 1,419,015 shares of the transportation company's stock worth $268,662,000 after acquiring an additional 1,154,182 shares during the last quarter. FMR LLC boosted its position in Herc by 69.0% during the 4th quarter. FMR LLC now owns 1,245,168 shares of the transportation company's stock worth $235,748,000 after acquiring an additional 508,359 shares during the last quarter. Norges Bank acquired a new position in Herc during the 4th quarter worth approximately $183,786,000. Finally, Capital International Investors boosted its position in Herc by 58.9% during the 4th quarter. Capital International Investors now owns 561,377 shares of the transportation company's stock worth $106,286,000 after acquiring an additional 208,158 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Analyst Ratings Changes

HRI has been the subject of several recent analyst reports. Robert W. Baird cut their price objective on Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group reissued a "buy" rating and issued a $146.00 price objective (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Barclays cut their price objective on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Citigroup restated a "buy" rating and issued a $140.00 price target (up previously from $130.00) on shares of Herc in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.20.

Herc Price Performance

Shares of NYSE HRI traded up $0.71 during mid-day trading on Monday, reaching $149.79. The company had a trading volume of 734,087 shares, compared to its average volume of 513,291. The business's 50-day simple moving average is $129.54 and its 200 day simple moving average is $143.28. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 3.74 and a beta of 1.86. The company has a debt-to-equity ratio of 3.04, a quick ratio of 1.50 and a current ratio of 1.50. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88.

Herc Dividend Announcement

The business 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 dividend yield of 1.87%. The ex-dividend date was Friday, May 30th. Herc's dividend payout ratio is currently 62.36%.

Herc Company 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.