Royce & Associates LP Purchases 2,800 Shares of Herc Holdings Inc. (NYSE:HRI)

Key Points

• Royce & Associates LP increased its stake in Herc Holdings Inc. by 6.5% during the first quarter, now owning 46,124 shares valued at approximately $6.19 million.
• Several large investors increased their holdings in Herc, with institutional investors owning 93.11% of the stock.
• Wall Street analysts have mixed ratings on Herc, with an average target price of $139.20 and recent adjustments indicating caution in price expectations.

Royce & Associates LP increased its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,124 shares of the transportation company's stock after purchasing an additional 2,800 shares during the quarter. Royce & Associates LP owned about 0.16% of Herc worth $6,193,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HRI. Quarry LP boosted its stake in Herc by 646.7% during 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 during the period. Nomura Asset Management Co. Ltd. lifted its stake in Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock worth $44,000 after purchasing an additional 80 shares during the last quarter. Larson Financial Group LLC lifted its stake in Herc by 1,831.3% during the first 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in Herc during the fourth quarter worth about $59,000. Finally, CWM LLC lifted its stake in Herc by 114.4% during the first quarter. CWM LLC now owns 1,042 shares of the transportation company's stock worth $140,000 after purchasing an additional 556 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays dropped their price target on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $146.00 price target (down previously from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Citigroup reaffirmed a "buy" rating and set a $140.00 price target (up previously from $130.00) on shares of Herc in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lowered their price target on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $139.20.

Herc Stock Up 0.5%

Shares of HRI stock traded up $0.71 during midday trading on Monday, reaching $149.79. 734,087 shares of the stock were exchanged, compared to its average volume of 513,291. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $246.88. The company's 50 day moving average is $129.54 and its two-hundred day moving average is $143.28. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.04. The firm has a market cap of $4.27 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 3.74 and a beta of 1.86.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders 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 annualized dividend and a yield of 1.87%. Herc's dividend 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.