Herc Holdings Inc. (NYSE:HRI) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Herc Holdings Inc. by 40.6% in the first quarter, selling over 7,600 shares and currently holding 11,187 shares valued at approximately $1.5 million.
• Analysts have adjusting their price targets for Herc Holdings, with Citigroup lowering it from $170 to $140 while maintaining a "buy" rating, and JPMorgan reducing it from $225 to $140 with a "neutral" rating.
• Herc Holdings recently announced a quarterly dividend of $0.70 per share, translating to an annualized yield of 2.5% despite a high payout ratio of over 325%.

Natixis Advisors LLC cut its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 40.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,187 shares of the transportation company's stock after selling 7,655 shares during the quarter. Natixis Advisors LLC's holdings in Herc were worth $1,502,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Quarry LP boosted its position in Herc by 646.7% during the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after acquiring an additional 194 shares during the last quarter. Larson Financial Group LLC boosted its position in Herc by 1,831.3% during the first quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after acquiring an additional 293 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Herc during the fourth quarter worth approximately $59,000. CWM LLC boosted its position in Herc by 114.4% during the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after acquiring an additional 556 shares during the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in Herc during the fourth quarter worth approximately $217,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on HRI. Robert W. Baird decreased their target price on shares of Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Citigroup cut their price target on shares of Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. cut their price target 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. The Goldman Sachs Group reaffirmed a "buy" rating and set a $146.00 price target (down previously from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, Barclays cut their price target 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.60.

Herc Trading Up 0.4%

NYSE:HRI traded up $0.47 during trading hours on Monday, reaching $110.97. 478,721 shares of the company were exchanged, compared to its average volume of 526,896. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 129.03, a PEG ratio of 1.30 and a beta of 1.86. The stock has a 50 day simple moving average of $127.49 and a 200 day simple moving average of $136.90. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $246.88.

Herc (NYSE:HRI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.58. Herc had a net margin of 0.61% and a return on equity of 20.77%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. As a group, analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 22nd. Herc's payout ratio is presently 325.58%.

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.