Perbak Capital Partners LLP Takes Position in Herc Holdings Inc. (NYSE:HRI)

Perbak Capital Partners LLP bought a new position in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,764 shares of the transportation company's stock, valued at approximately $1,849,000. Herc accounts for approximately 1.0% of Perbak Capital Partners LLP's investment portfolio, making the stock its 23rd largest holding.

A number of other large investors also recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of Herc by 0.9% in the fourth quarter. Arizona State Retirement System now owns 7,829 shares of the transportation company's stock valued at $1,482,000 after buying an additional 68 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings 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 worth $44,000 after acquiring an additional 80 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Herc by 0.4% during the fourth quarter. Salem Investment Counselors Inc. now owns 21,126 shares of the transportation company's stock valued at $4,000,000 after acquiring an additional 90 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Herc by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,945 shares of the transportation company's stock valued at $558,000 after buying an additional 94 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Herc by 34.1% in the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company's stock worth $87,000 after buying an additional 117 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Herc Price Performance

HRI traded up $4.72 on Friday, hitting $116.23. 403,677 shares of the stock were exchanged, compared to its average volume of 364,295. Herc Holdings Inc. has a 12 month low of $96.19 and a 12 month high of $246.88. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.61 and a beta of 1.85. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50-day moving average of $125.49 and a two-hundred day moving average of $176.50.

Herc (NYSE:HRI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($1.21). Herc had a return on equity of 26.48% and a net margin of 5.91%. The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $841.67 million. During the same quarter in the prior year, the firm earned $2.36 EPS. Sell-side analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal 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 given a dividend of $0.70 per share. This is a positive change from Herc's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. Herc's dividend payout ratio is presently 62.36%.

Analyst Upgrades and Downgrades

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

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.