Squarepoint Ops LLC Sells 28,626 Shares of Herc Holdings Inc. $HRI

Squarepoint Ops LLC cut its stake in Herc Holdings Inc. (NYSE:HRI - Free Report) by 65.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,138 shares of the transportation company's stock after selling 28,626 shares during the quarter. Squarepoint Ops LLC's holdings in Herc were worth $2,170,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in Herc by 14,281.7% in the second quarter. California State Teachers Retirement System now owns 5,268,318 shares of the transportation company's stock valued at $755,161,000 after purchasing an additional 5,231,686 shares during the last quarter. Norges Bank purchased a new stake in shares of Herc during the fourth quarter valued at about $287,269,000. Dimensional Fund Advisors LP boosted its holdings in shares of Herc by 17.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company's stock valued at $115,872,000 after buying an additional 170,189 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Herc by 13.4% in the 1st quarter. First Trust Advisors LP now owns 873,338 shares of the transportation company's stock valued at $86,941,000 after buying an additional 103,047 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Herc in the 2nd quarter worth approximately $86,054,000. 93.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Herc from a "neutral" rating to an "overweight" rating and raised their target price for the company from $165.00 to $175.00 in a research note on Thursday, September 10th. Wells Fargo & Company increased their price objective on Herc from $176.00 to $218.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Zacks Research upgraded Herc from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 9th. BNP Paribas Exane upped their target price on Herc from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Finally, Citigroup increased their price target on Herc from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $184.43.

Herc Stock Performance

HRI opened at $140.04 on Tuesday. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22. The firm has a market capitalization of $4.68 billion, a PE ratio of 95.27, a P/E/G ratio of 19.24 and a beta of 1.86. The firm has a 50 day moving average of $153.98 and a two-hundred day moving average of $135.74.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.76 by $0.67. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. Herc had a net margin of 1.01% and a return on equity of 10.33%. The business's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. On average, analysts anticipate that Herc Holdings Inc. will post 7.05 EPS for the current year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Herc's dividend payout ratio is presently 190.48%.

Herc Profile

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power-generation and climate-control systems, pumps, trench-safety equipment, tools, and general construction equipment.

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