Jacobs Levy Equity Management Inc. Reduces Stake in Herc Holdings Inc. (NYSE:HRI)

Jacobs Levy Equity Management Inc. lowered its position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 40.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,364 shares of the transportation company's stock after selling 20,050 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.10% of Herc worth $5,559,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in Herc by 49.5% during the 3rd quarter. Barclays PLC now owns 52,058 shares of the transportation company's stock valued at $8,299,000 after acquiring an additional 17,236 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Herc by 5.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 36,270 shares of the transportation company's stock valued at $6,867,000 after purchasing an additional 1,766 shares in the last quarter. Argent Capital Management LLC lifted its holdings in shares of Herc by 38.2% during the fourth quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company's stock valued at $1,308,000 after purchasing an additional 1,910 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Herc in the 4th quarter worth approximately $62,982,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Herc in the 4th quarter worth approximately $71,211,000. Institutional investors own 93.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HRI shares. Citigroup reduced their price objective on Herc from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird reduced their price target on Herc from $129.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Herc from $225.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Barclays dropped their price target on shares of Herc from $250.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $146.00 price objective (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Herc has an average rating of "Moderate Buy" and an average target price of $139.20.

Herc Stock Down 1.2%

Shares of HRI stock traded down $1.66 during mid-day trading on Monday, hitting $135.63. The company's stock had a trading volume of 85,125 shares, compared to its average volume of 378,527. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.61 and a beta of 1.85. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. Herc Holdings Inc. has a 52-week low of $96.19 and a 52-week high of $246.88. The business has a 50-day moving average price of $123.73 and a 200 day moving average price of $171.28.

Herc (NYSE:HRI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $841.67 million. During the same quarter in the previous year, the business posted $2.36 earnings per share. Research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.06%. Herc's 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.