Point72 Asset Management L.P. Takes Position in Herc Holdings Inc. (NYSE:HRI)

Point72 Asset Management L.P. purchased a new position in Herc Holdings Inc. (NYSE:HRI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 73,600 shares of the transportation company's stock, valued at approximately $13,935,000. Point72 Asset Management L.P. owned approximately 0.26% of Herc at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors raised its holdings in Herc by 435.8% in the fourth quarter. Capital World Investors now owns 1,419,015 shares of the transportation company's stock worth $268,662,000 after purchasing an additional 1,154,182 shares in the last quarter. Norges Bank bought a new position in shares of Herc during the 4th quarter worth approximately $183,786,000. FMR LLC lifted its position in Herc by 69.0% during the fourth quarter. FMR LLC now owns 1,245,168 shares of the transportation company's stock valued at $235,748,000 after acquiring an additional 508,359 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in Herc in the fourth quarter valued at approximately $71,211,000. Finally, Capital International Investors grew its holdings in Herc by 58.9% in the fourth quarter. Capital International Investors now owns 561,377 shares of the transportation company's stock worth $106,286,000 after purchasing an additional 208,158 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup lowered their price objective on Herc from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group restated 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. Robert W. Baird cut their price objective on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Barclays decreased their price target on shares of Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $139.20.

Herc Stock Performance

NYSE:HRI traded down $2.69 during mid-day trading on Friday, hitting $125.13. The company's stock had a trading volume of 66,918 shares, compared to its average volume of 382,214. The business's fifty day moving average is $124.17 and its two-hundred day moving average is $169.66. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.61 and a beta of 1.85. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. Herc Holdings Inc. has a 1 year low of $96.19 and a 1 year high of $246.88.

Herc (NYSE:HRI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). Herc had a return on equity of 26.48% and a net margin of 5.91%. The company had revenue of $861.00 million during the quarter, compared to analysts' expectations of $841.67 million. During the same quarter in the previous year, the company earned $2.36 EPS. Analysts anticipate 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 will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 2.24%. Herc's payout ratio is 62.36%.

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.