Massachusetts Financial Services Co. MA lowered its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,673 shares of the transportation company's stock after selling 14,988 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.62% of Herc worth $23,856,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Quarry LP raised its position in shares of Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after buying an additional 194 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after acquiring an additional 80 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Herc in the 4th quarter worth about $59,000. PNC Financial Services Group Inc. boosted its stake in Herc by 54.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock valued at $70,000 after acquiring an additional 130 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Herc by 34.1% in the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock valued at $87,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.
Herc Stock Performance
Shares of HRI stock traded down $0.37 during mid-day trading on Friday, hitting $136.83. The stock had a trading volume of 685,808 shares, compared to its average volume of 416,398. Herc Holdings Inc. has a fifty-two week low of $96.19 and a fifty-two week high of $246.88. The firm has a market cap of $3.90 billion, a PE ratio of 30.47, a PEG ratio of 3.43 and a beta of 1.86. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.50 and a quick ratio of 1.50. The company's 50-day simple moving average is $129.16 and its 200-day simple moving average is $145.44.
Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS 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 last year, the firm earned $2.36 earnings per share. Sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.
Herc Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 annualized dividend and a yield of 2.05%. Herc's dividend payout ratio is presently 62.36%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Citigroup reissued a "buy" rating and set a $140.00 target price (up previously from $130.00) on shares of Herc in a report on Tuesday, June 24th. Robert W. Baird dropped their target price 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. The Goldman Sachs Group restated a "buy" rating and set a $146.00 price target (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays reduced their target price on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Herc currently has an average rating of "Moderate Buy" and an average price target of $139.20.
Read Our Latest Stock Analysis on HRI
Herc Company Profile
(
Free Report)
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.
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