Vanguard Group Inc. Buys 96,329 Shares of Herc Holdings Inc. (NYSE:HRI)

Key Points

• Vanguard Group Inc. has increased its stake in Herc Holdings Inc. by 3.1%, acquiring an additional 96,329 shares, bringing its total ownership to 3,163,221 shares, valued at approximately $424.7 million.
• Herc Holdings recently reported strong earnings, with $1.87 earnings per share for the quarter, significantly exceeding analyst estimates of $1.29.
• The company declared a quarterly dividend of $0.70 per share, with an annualized dividend yield of 2.2%, highlighting its commitment to returning value to shareholders.

Vanguard Group Inc. raised its holdings in Herc Holdings Inc. (NYSE:HRI - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,163,221 shares of the transportation company's stock after purchasing an additional 96,329 shares during the quarter. Vanguard Group Inc. owned 11.10% of Herc worth $424,726,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Hengistbury Investment Partners LLP purchased a new position in shares of Herc during the 1st quarter worth approximately $10,070,000. Atria Wealth Solutions Inc. acquired a new position in Herc during the first quarter worth about $326,000. New Age Alpha Advisors LLC acquired a new position in shares of Herc during the 1st quarter valued at $118,000. Vestcor Inc purchased a new position in shares of Herc in the first quarter valued at $271,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Herc during the first quarter worth $195,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Herc Trading Down 0.6%

Shares of HRI traded down $0.75 during midday trading on Friday, hitting $125.10. 231,053 shares of the stock were exchanged, compared to its average volume of 619,961. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $246.88. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $4.16 billion, a P/E ratio of 145.47, a P/E/G ratio of 1.47 and a beta of 1.86. The stock has a fifty day simple moving average of $127.89 and a 200 day simple moving average of $134.75.

Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.58. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. On average, research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.2%. Herc's dividend payout ratio is 325.58%.

Analyst Upgrades and Downgrades

HRI has been the topic of several recent research reports. Barclays cut their price objective on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird cut their price objective on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "buy" rating and set a $146.00 price target (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Finally, Citigroup decreased their price target on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.60.

Herc Company 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.