Marshall Wace LLP cut its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 68.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,613 shares of the transportation company's stock after selling 194,891 shares during the period. Marshall Wace LLP owned about 0.32% of Herc worth $17,345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Herc by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company's stock worth $580,655,000 after acquiring an additional 27,578 shares in the last quarter. FMR LLC raised its stake in Herc by 69.0% during the fourth quarter. FMR LLC now owns 1,245,168 shares of the transportation company's stock valued at $235,748,000 after buying an additional 508,359 shares in the last quarter. Norges Bank bought a new position in Herc during the 4th quarter worth approximately $183,786,000. American Century Companies Inc. grew its position in shares of Herc by 0.8% in the 4th quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company's stock worth $153,787,000 after acquiring an additional 6,777 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Herc during the fourth quarter valued at $71,211,000. 93.11% of the stock is owned by hedge funds and other institutional investors.
Herc Price Performance
NYSE:HRI traded down $3.07 during midday trading on Friday, hitting $108.38. 415,990 shares of the stock were exchanged, compared to its average volume of 360,394. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.61 and a beta of 1.93. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a one year low of $96.19 and a one year high of $246.88. The business has a 50-day moving average price of $130.80 and a two-hundred day moving average price of $178.38.
Herc (NYSE:HRI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $841.67 million. During the same period in the prior year, the business earned $2.36 EPS. Sell-side analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current year.
Herc Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.70 dividend. This is an increase from Herc's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, February 18th. Herc's payout ratio is presently 37.79%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Barclays decreased their target price on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday. Robert W. Baird reduced their price objective on Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, 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 report on Tuesday. Three equities research 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $139.20.
View Our Latest Research Report on Herc
Herc Company Profile
(
Free Report)
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.
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