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

Jacobs Levy Equity Management Inc. lowered its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 40.6% during the 4th quarter, HoldingsChannel reports. The fund owned 29,364 shares of the transportation company’s stock after selling 20,050 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Herc were worth $5,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Herc by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company’s stock valued at $580,655,000 after purchasing an additional 27,578 shares during the last quarter. Capital World Investors increased its position in Herc by 435.8% during the 4th quarter. Capital World Investors now owns 1,419,015 shares of the transportation company’s stock valued at $268,662,000 after buying an additional 1,154,182 shares in the last quarter. FMR LLC raised its stake in Herc by 69.0% during the fourth quarter. FMR LLC now owns 1,245,168 shares of the transportation company’s stock valued at $235,748,000 after buying an additional 508,359 shares during the last quarter. Norges Bank bought a new stake in Herc in the fourth quarter worth $183,786,000. Finally, American Century Companies Inc. grew its stake in shares of Herc by 0.8% in the fourth quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company’s stock worth $153,787,000 after acquiring an additional 6,777 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Trading Up 3.2%

NYSE:HRI opened at $137.42 on Wednesday. The company’s 50 day moving average price is $123.31 and its 200-day moving average price is $173.14. Herc Holdings Inc. has a 52 week low of $96.19 and a 52 week high of $246.88. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.61 and a beta of 1.85.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share (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 company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $841.67 million. During the same quarter in the prior year, the business posted $2.36 EPS. On average, equities research analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRI has been the subject of several recent analyst reports. 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 target price 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. Citigroup cut their price target 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. Robert W. Baird cut their price target on shares of Herc from $129.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $146.00 price target (down previously from $171.00) on shares of Herc in a report on Tuesday, April 22nd. Three 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 stock has a consensus rating of “Moderate Buy” and an average price target of $139.20.

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.