Mackenzie Financial Corp Lowers Holdings in Herc Holdings Inc. (NYSE:HRI)

Mackenzie Financial Corp trimmed its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 76.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,274 shares of the transportation company's stock after selling 10,727 shares during the period. Mackenzie Financial Corp's holdings in Herc were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Herc by 8.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,912 shares of the transportation company's stock valued at $1,062,000 after purchasing an additional 634 shares in the last quarter. Royce & Associates LP grew its position in Herc by 6.5% during the first quarter. Royce & Associates LP now owns 46,124 shares of the transportation company's stock valued at $6,193,000 after buying an additional 2,800 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Herc in the first quarter valued at $948,000. Jennison Associates LLC raised its position in shares of Herc by 79.5% in the first quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company's stock worth $40,217,000 after acquiring an additional 132,693 shares during the period. Finally, Bailard Inc. boosted its stake in shares of Herc by 7.0% during the 1st quarter. Bailard Inc. now owns 3,947 shares of the transportation company's stock worth $530,000 after acquiring an additional 259 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HRI. JPMorgan Chase & Co. cut their price target on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup dropped their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group restated 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. Barclays decreased their target price on Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Robert W. Baird cut their price target on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Herc has an average rating of "Moderate Buy" and a consensus target price of $144.60.

Herc Price Performance

NYSE:HRI opened at $111.93 on Friday. The stock has a 50 day moving average of $127.86 and a two-hundred day moving average of $139.25. 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 $3.72 billion, a P/E ratio of 130.15, a price-to-earnings-growth ratio of 1.37 and a beta of 1.86. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly 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. Herc had a return on equity of 20.77% and a net margin of 0.61%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. On average, analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 30th. Herc's dividend payout ratio is currently 325.58%.

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.

Want to see what other hedge funds are holding HRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Herc Holdings Inc. (NYSE:HRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.