Phocas Financial Corp. Has $5.80 Million Position in Herc Holdings Inc. (NYSE:HRI)

Key Points

• Phocas Financial Corp. reduced its stake in Herc Holdings Inc. by 5.5% in the 1st quarter, now holding 43,188 shares valued at approximately $5.8 million.
• Herc reported a quarterly EPS of $1.87, exceeding analysts' expectations of $1.29, and generated revenues of $1 billion for the quarter.
• The company declared a quarterly dividend of $0.70 per share, with a notable payout ratio of 325.58%.

Phocas Financial Corp. reduced its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,188 shares of the transportation company's stock after selling 2,496 shares during the quarter. Phocas Financial Corp. owned about 0.15% of Herc worth $5,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Herc by 1,831.3% during the 1st quarter. Larson Financial Group LLC now owns 309 shares of the transportation company's stock worth $41,000 after purchasing an additional 293 shares during the last quarter. Quarry LP raised its holdings in Herc by 646.7% during the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock worth $42,000 after purchasing an additional 194 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Herc during the 4th quarter worth about $59,000. CWM LLC grew its position in shares of Herc by 114.4% during the 1st quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after buying an additional 556 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Herc during the 1st quarter worth about $195,000. 93.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRI. Robert W. Baird decreased their target price on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "buy" rating and set a $146.00 price objective (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Citigroup cut 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. JPMorgan Chase & Co. cut their price objective on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Barclays reduced their price target on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research report 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 has a consensus rating of "Moderate Buy" and an average target price of $144.60.

Herc Stock Down 1.4%

NYSE:HRI traded down $1.59 during trading hours on Tuesday, reaching $112.31. 61,371 shares of the stock were exchanged, compared to its average volume of 526,444. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $246.88. 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 50 day moving average of $128.97 and a 200 day moving average of $140.87. The stock has a market cap of $3.73 billion, a PE ratio of 130.39, a PEG ratio of 1.35 and a beta of 1.86.

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 (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 company had revenue of $1 billion for the quarter, compared to analysts' expectations of $868.23 million. On average, equities analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.5%. 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.