Wolverine Asset Management LLC Purchases 2,477 Shares of Herc Holdings Inc. (NYSE:HRI)

Key Points

• Wolverine Asset Management LLC increased its stake in Herc Holdings Inc. by 212.3%, owning 3,644 shares worth $489,000 after purchasing an additional 2,477 shares.
• Herc Holdings recently declared a quarterly dividend of $0.70 per share, representing an annualized dividend of $2.80 and a yield of 2.5%.
• Analysts have lowered price targets for Herc stock, with a current consensus rating of "Moderate Buy" and an average price target of $144.60.

Wolverine Asset Management LLC boosted its position in Herc Holdings Inc. (NYSE:HRI - Free Report) by 212.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,644 shares of the transportation company's stock after buying an additional 2,477 shares during the quarter. Wolverine Asset Management LLC's holdings in Herc were worth $489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HRI. Summit Investment Advisors Inc. increased its holdings in shares of Herc by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company's stock worth $558,000 after acquiring an additional 94 shares during the last quarter. Xponance Inc. boosted its stake in Herc by 5.1% in the 1st quarter. Xponance Inc. now owns 2,223 shares of the transportation company's stock valued at $298,000 after purchasing an additional 107 shares during the period. Vista Finance LLC boosted its stake in Herc by 8.0% in the 1st quarter. Vista Finance LLC now owns 1,590 shares of the transportation company's stock valued at $213,000 after purchasing an additional 118 shares during the period. Tower Research Capital LLC TRC boosted its stake in Herc by 11.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,331 shares of the transportation company's stock valued at $252,000 after purchasing an additional 132 shares during the period. Finally, Quarry LP boosted its stake in Herc by 646.7% in the 4th quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after purchasing an additional 194 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 $8.65 on Wednesday, hitting $129.53. 406,349 shares of the company's stock were exchanged, compared to its average volume of 526,546. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $246.88. The stock has a market cap of $4.31 billion, a P/E ratio of 150.62, a price-to-earnings-growth ratio of 1.31 and a beta of 1.86. The company has a 50 day moving average of $127.68 and a 200 day moving average of $136.73.

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

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 22nd. Herc's dividend payout ratio is currently 325.58%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HRI shares. Robert W. Baird reduced their price target on Herc from $142.00 to $137.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Barclays reduced 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. Citigroup reduced their price target on Herc from $170.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $146.00 price target (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Herc has a consensus rating of "Moderate Buy" and an average target price 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.