Strs Ohio Takes Position in Herc Holdings Inc. $HRI

Key Points

• Strs Ohio has acquired 5,800 shares of Herc Holdings Inc. ($HRI), valued at approximately $779,000, during the first quarter 2023.
• Several hedge funds increased their stakes in Herc Holdings, with notable increases including Invesco Ltd. by 104.7% and Coliseum Capital Management LLC by 213.4% during the same period.
• Herc reported $1.87 earnings per share for the last quarter, surpassing estimates, and announced a quarterly dividend of $0.70 per share with a payout ratio of 325.58%.

Strs Ohio acquired a new stake in Herc Holdings Inc. (NYSE:HRI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,800 shares of the transportation company's stock, valued at approximately $779,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Herc by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company's stock valued at $424,726,000 after acquiring an additional 96,329 shares during the last quarter. Invesco Ltd. grew its position in Herc by 104.7% in the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company's stock worth $400,995,000 after acquiring an additional 1,527,244 shares during the period. Coliseum Capital Management LLC grew its position in Herc by 213.4% in the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company's stock worth $175,892,000 after acquiring an additional 891,979 shares during the period. American Century Companies Inc. grew its position in Herc by 14.9% in the first quarter. American Century Companies Inc. now owns 933,208 shares of the transportation company's stock worth $125,302,000 after acquiring an additional 120,938 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Herc by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 825,120 shares of the transportation company's stock worth $110,796,000 after acquiring an additional 92,019 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Price Performance

Shares of HRI stock traded up $1.41 during midday trading on Tuesday, reaching $125.83. 13,922 shares of the company traded hands, compared to its average volume of 512,505. The firm's 50 day simple moving average is $127.90 and its two-hundred day simple moving average is $126.40. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $4.18 billion, a PE ratio of 146.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.83.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, equities research analysts expect 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, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.70 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. Herc's payout ratio is currently 325.58%.

Analysts Set New Price Targets

Several research analysts have recently commented on HRI shares. Zacks Research upgraded Herc from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Citigroup lowered their price target on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Finally, Robert W. Baird reduced their price objective on Herc from $142.00 to $137.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.