III Capital Management Sells 4,240 Shares of Herc Holdings Inc. (NYSE:HRI)

III Capital Management trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,520 shares of the transportation company's stock after selling 4,240 shares during the period. Herc comprises 0.8% of III Capital Management's portfolio, making the stock its 13th largest position. III Capital Management owned 0.10% of Herc worth $5,210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company's stock valued at $35,000 after buying an additional 167 shares during the period. Quarry LP increased its position in shares of Herc by 646.7% during the fourth quarter. Quarry LP now owns 224 shares of the transportation company's stock valued at $42,000 after buying an additional 194 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company's stock valued at $44,000 after buying an additional 80 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Herc by 54.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company's stock valued at $70,000 after buying an additional 130 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Herc by 34.1% during the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock valued at $87,000 after buying an additional 117 shares during the period. 93.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HRI. Robert W. Baird reduced their price target on shares of Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. 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 report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on shares of Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Citigroup cut their price objective on shares of Herc from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $146.00 price objective (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.20.

Herc Stock Up 2.2 %

Shares of NYSE:HRI traded up $2.45 during trading on Thursday, reaching $111.89. 438,811 shares of the stock traded hands, compared to its average volume of 362,675. The stock has a 50-day moving average of $126.92 and a two-hundred day moving average of $177.24. Herc Holdings Inc. has a 52-week low of $96.19 and a 52-week high of $246.88. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $3.19 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93.

Herc (NYSE:HRI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $841.67 million. During the same quarter in the previous year, the company earned $2.36 EPS. As a group, sell-side analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.70 per share. This is an increase from Herc's previous quarterly dividend of $0.67. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.50%. Herc's dividend payout ratio is 62.36%.

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.