Herc Holdings Inc. $HRI Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Herc Holdings Inc. by 2.9%, selling 6,021 shares to hold a total of 204,831 shares worth about $27.5 million.
• Herc Holdings reported earnings per share (EPS) of $1.87 for the last quarter, exceeding estimates by $0.58, with revenues of $1 billion compared to an expectation of $868.23 million.
• The company declared a quarterly dividend of $0.70 per share, resulting in an annualized yield of 2.0%, despite having a high dividend payout ratio of 325.58%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,831 shares of the transportation company's stock after selling 6,021 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.72% of Herc worth $27,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coliseum Capital Management LLC lifted its stake in Herc by 213.4% in the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock valued at $175,892,000 after buying an additional 891,979 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Herc by 135.6% in the first quarter. Alliancebernstein L.P. now owns 589,817 shares of the transportation company's stock valued at $79,195,000 after buying an additional 339,519 shares during the last quarter. AQR Capital Management LLC lifted its stake in Herc by 176.9% in the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company's stock valued at $3,462,000 after buying an additional 16,470 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Herc by 3.8% in the first quarter. Advisors Asset Management Inc. now owns 28,427 shares of the transportation company's stock valued at $3,817,000 after buying an additional 1,043 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its stake in Herc by 50.1% in the first quarter. Federation des caisses Desjardins du Quebec now owns 10,480 shares of the transportation company's stock valued at $1,407,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Herc Price Performance

HRI stock traded down $2.05 on Friday, reaching $127.15. 120,512 shares of the company's stock were exchanged, compared to its average volume of 510,253. The stock has a fifty day moving average of $130.12 and a 200-day moving average of $127.12. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. The firm has a market cap of $4.23 billion, a PE ratio of 147.84, a P/E/G ratio of 1.57 and a beta of 1.83. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37.

Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 earnings per share 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. As a group, equities analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 22nd. Herc's dividend payout ratio is currently 325.58%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research raised Herc from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Robert W. Baird dropped their target price on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Finally, Citigroup dropped their target price on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Herc has a consensus rating of "Moderate Buy" and an average target price of $144.60.

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.