Algert Global LLC Cuts Holdings in Herc Holdings Inc. $HRI

Algert Global LLC trimmed its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 15.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,224 shares of the transportation company’s stock after selling 2,910 shares during the period. Algert Global LLC owned about 0.06% of Herc worth $2,178,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Herc during the 1st quarter worth approximately $11,259,000. D.A. Davidson & CO. raised its stake in shares of Herc by 9.6% during the 1st quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company’s stock worth $5,270,000 after buying an additional 3,435 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Herc by 8.0% during the 1st quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company’s stock worth $907,000 after buying an additional 500 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Herc by 1,221.2% in the 4th quarter. Millennium Management LLC now owns 40,732 shares of the transportation company’s stock worth $7,712,000 after acquiring an additional 37,649 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Herc by 3.9% in the 1st quarter. Rhumbline Advisers now owns 42,982 shares of the transportation company’s stock worth $5,772,000 after acquiring an additional 1,601 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Price Performance

Shares of NYSE:HRI opened at $118.5330 on Friday. The business’s fifty day moving average price is $127.98 and its two-hundred day moving average price is $133.49. The stock has a market cap of $3.94 billion, a PE ratio of 137.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.86. The company has a debt-to-equity ratio of 4.37, a quick ratio of 1.15 and a current ratio of 1.15. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $246.88.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.58. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. On average, analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.4%. Herc’s dividend payout ratio (DPR) is 325.58%.

Analyst Upgrades and Downgrades

HRI has been the topic of a number of research reports. Citigroup lowered their price target on Herc from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Barclays lowered their price target on Herc from $250.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird lowered their price target on Herc from $142.00 to $137.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Herc currently has a consensus rating of “Moderate Buy” and an average target price of $144.60.

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.