T. Rowe Price Investment Management Inc. Lowers Stock Position in Herc Holdings Inc. (NYSE:HRI)

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Herc Holdings Inc. (NYSE:HRI - Free Report) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 519,093 shares of the transportation company's stock after selling 117,232 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.83% of Herc worth $98,280,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HRI. Argent Capital Management LLC raised its position 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 buying an additional 1,910 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Herc in the 4th quarter valued at $5,377,000. Hennessy Advisors Inc. purchased a new stake in Herc in the 4th quarter worth $62,982,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Herc by 12.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company's stock valued at $527,000 after purchasing an additional 315 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Herc by 49.5% during the third quarter. Barclays PLC now owns 52,058 shares of the transportation company's stock valued at $8,299,000 after purchasing an additional 17,236 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. 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 research note on Tuesday, April 22nd. Citigroup lowered their price target on shares of Herc from $165.00 to $140.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on Herc from $225.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays lowered their price objective on Herc from $250.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Robert W. Baird cut their target price on Herc from $129.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.20.

Herc Trading Up 0.8 %

Shares of NYSE HRI traded up $0.88 during mid-day trading on Wednesday, reaching $108.48. The company had a trading volume of 109,190 shares, compared to its average volume of 361,782. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. Herc Holdings Inc. has a 52 week low of $96.19 and a 52 week high of $246.88. The business's 50-day moving average is $128.00 and its 200-day moving average is $177.71. 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 (NYSE:HRI - Get Free Report) last issued its 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 return on equity of 26.48% and a net margin of 5.91%. The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $841.67 million. During the same quarter in the prior year, the company earned $2.36 earnings per share. Equities analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Herc's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.58%. Herc's payout ratio is 62.36%.

About Herc

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.