Herc Holdings Inc. (NYSE:HRI) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 466,119 shares of the transportation company's stock after purchasing an additional 11,408 shares during the quarter. Jennison Associates LLC owned approximately 1.65% of Herc worth $69,400,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Herc by 213.3% in the fourth quarter. Signaturefd LLC now owns 235 shares of the transportation company's stock worth $35,000 after acquiring an additional 160 shares during the period. CWM LLC lifted its stake in Herc by 45.3% in the fourth quarter. CWM LLC now owns 359 shares of the transportation company's stock worth $53,000 after acquiring an additional 112 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Herc in the third quarter worth about $173,000. Legato Capital Management LLC purchased a new stake in Herc in the fourth quarter worth about $202,000. Finally, Arthur M. Cohen & Associates LLC purchased a new stake in Herc in the fourth quarter worth about $208,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Stock Up 3.4 %

Shares of HRI traded up $5.10 during mid-day trading on Tuesday, hitting $153.50. 323,245 shares of the company traded hands, compared to its average volume of 196,128. Herc Holdings Inc. has a 1-year low of $93.97 and a 1-year high of $171.00. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.97. The company has a market capitalization of $4.35 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27. The business has a 50 day moving average of $158.47 and a 200 day moving average of $140.81.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.05). Herc had a return on equity of 30.21% and a net margin of 10.58%. The business had revenue of $831.00 million during the quarter, compared to analyst estimates of $858.06 million. During the same quarter last year, the company posted $3.44 EPS. Herc's quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Herc Holdings Inc. will post 14.75 EPS for the current year.

Herc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Wednesday, February 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 1.73%. The ex-dividend date was Tuesday, February 20th. This is an increase from Herc's previous quarterly dividend of $0.63. Herc's dividend payout ratio is 21.98%.

Insiders Place Their Bets

In other Herc news, SVP Tamir Peres sold 3,545 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $159.10, for a total value of $564,009.50. Following the sale, the senior vice president now owns 41,236 shares in the company, valued at approximately $6,560,647.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

HRI has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of Herc from $155.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Robert W. Baird boosted their target price on shares of Herc from $117.00 to $142.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Herc has an average rating of "Hold" and an average target price of $152.50.

Herc 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.