Phocas Financial Corp. Has $5.80 Million Holdings 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 holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F 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 0.15% of Herc worth $5,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HRI. Summit Investment Advisors Inc. lifted its holdings in shares of Herc by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company's stock valued at $558,000 after buying an additional 94 shares during the last quarter. Xponance Inc. boosted its holdings in Herc by 5.1% during the first quarter. Xponance Inc. now owns 2,223 shares of the transportation company's stock worth $298,000 after buying an additional 107 shares during the last quarter. Vista Finance LLC grew its stake in shares of Herc by 8.0% during the 1st quarter. Vista Finance LLC now owns 1,590 shares of the transportation company's stock worth $213,000 after acquiring an additional 118 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Herc by 11.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,331 shares of the transportation company's stock worth $252,000 after buying an additional 132 shares during the last quarter. Finally, Quarry LP raised its position in shares of Herc by 646.7% in the fourth 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. 93.11% of the stock is owned by institutional investors.

Herc Price Performance

Shares of HRI traded down $4.56 during trading hours on Thursday, reaching $111.60. 140,739 shares of the company traded hands, compared to its average volume of 526,400. The stock has a market capitalization of $3.71 billion, a PE ratio of 129.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37. The stock has a fifty day simple moving average of $128.20 and a 200 day simple moving average of $139.90. Herc Holdings Inc. has a fifty-two week low of $96.18 and a fifty-two week high of $246.88.

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

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 2.5%. Herc's dividend payout ratio (DPR) is presently 325.58%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup reduced their price objective 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. dropped their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group restated a "buy" rating and issued a $146.00 price objective (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Robert W. Baird lowered their target price on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Finally, Barclays reduced their price objective on 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.60.

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.