Nuveen LLC Makes New Investment in Herc Holdings Inc. $HRI

Key Points

• Nuveen LLC has acquired a new stake in Herc Holdings Inc. worth approximately $14.5 million, owning 0.38% of the company as of last quarter.
• Herc Holdings' stock has faced target price reductions from several analysts, with Barclays setting a new target of $160.00 and Citigroup lowering theirs to $140.00.
• The company recently announced a quarterly dividend of $0.70 per share, representing an annual yield of 2.3%.

Nuveen LLC acquired a new position in Herc Holdings Inc. (NYSE:HRI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 108,197 shares of the transportation company's stock, valued at approximately $14,528,000. Nuveen LLC owned approximately 0.38% of Herc as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Herc by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after acquiring an additional 96,329 shares in the last quarter. Invesco Ltd. grew its position in shares of Herc by 104.7% in the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock valued at $400,995,000 after purchasing an additional 1,527,244 shares during the last quarter. Coliseum Capital Management LLC grew its position in shares of Herc by 6.6% in the fourth quarter. Coliseum Capital Management LLC now owns 418,010 shares of the transportation company's stock valued at $79,142,000 after purchasing an additional 25,882 shares during the last quarter. Electron Capital Partners LLC grew its position in shares of Herc by 0.4% in the fourth quarter. Electron Capital Partners LLC now owns 340,949 shares of the transportation company's stock valued at $64,552,000 after purchasing an additional 1,402 shares during the last quarter. Finally, Jennison Associates LLC grew 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 valued at $40,217,000 after purchasing an additional 132,693 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Trading Up 9.3%

Herc stock traded up $11.0620 during trading on Friday, hitting $129.6020. The company's stock had a trading volume of 560,370 shares, compared to its average volume of 597,316. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.52 and a beta of 1.86. The stock's fifty day moving average is $128.30 and its 200 day moving average is $132.47. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15.

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

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 22nd. Herc's dividend payout ratio is presently 325.58%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Herc from $170.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Robert W. Baird cut their target price on shares of Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.60.

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.