Principal Financial Group Inc. raised its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 71.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,290 shares of the transportation company's stock after purchasing an additional 21,808 shares during the period. Principal Financial Group Inc. owned 0.18% of Herc worth $7,021,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Herc by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock worth $580,655,000 after buying an additional 27,578 shares during the last quarter. Capital World Investors grew its stake in shares of Herc by 435.8% during the fourth quarter. Capital World Investors now owns 1,419,015 shares of the transportation company's stock worth $268,662,000 after acquiring an additional 1,154,182 shares during the last quarter. FMR LLC increased its holdings in shares of 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 in the last quarter. Norges Bank acquired a new position in shares of Herc during the fourth quarter valued at about $183,786,000. Finally, American Century Companies Inc. raised its position in shares of Herc by 0.8% in the 4th quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company's stock valued at $153,787,000 after purchasing an additional 6,777 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on HRI. 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 lowered their price target on Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. 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. Citigroup restated a "buy" rating and issued a $140.00 price objective (up from $130.00) on shares of Herc in a research note on Tuesday, June 24th. Finally, Barclays dropped their target price on Herc from $250.00 to $160.00 and set an "overweight" rating on the stock 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. Based on data from MarketBeat.com, Herc currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.20.
View Our Latest Stock Analysis on Herc
Herc Stock Performance
NYSE:HRI traded down $0.37 during mid-day trading on Friday, hitting $136.83. The company's stock had a trading volume of 685,808 shares, compared to its average volume of 416,840. The business's fifty day moving average is $128.85 and its two-hundred day moving average is $145.80. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.44 and a beta of 1.86. Herc Holdings Inc. has a 1 year low of $96.19 and a 1 year high of $246.88. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.50 and a quick ratio of 1.50.
Herc (NYSE:HRI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 3.53% and a return on equity of 24.10%. The company had revenue of $861.00 million for the quarter, compared to analysts' expectations of $841.67 million. During the same quarter in the prior year, the business posted $2.36 earnings per share. Analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.
Herc Announces Dividend
The company also recently announced 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. This represents a $2.80 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, May 30th. Herc's dividend payout ratio (DPR) is 62.36%.
Herc Company Profile
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Free Report)
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.
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