Capital World Investors Lowers Position in Herc Holdings Inc. $HRI

Capital World Investors cut its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,100,954 shares of the transportation company’s stock after selling 75,501 shares during the quarter. Capital World Investors’ holdings in Herc were worth $163,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Herc during the 3rd quarter worth $31,000. Advisory Services Network LLC purchased a new position in shares of Herc during the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Herc during the 3rd quarter worth $40,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Herc by 628.8% during the 3rd quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock worth $50,000 after purchasing an additional 371 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Stock Performance

Shares of Herc stock opened at $145.38 on Tuesday. The business has a 50-day moving average of $120.84 and a 200 day moving average of $136.78. Herc Holdings Inc. has a 12 month low of $88.45 and a 12 month high of $188.35. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -538.44, a price-to-earnings-growth ratio of 24.75 and a beta of 1.89. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.46.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.Herc’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. As a group, sell-side analysts forecast that Herc Holdings Inc. will post 5.31 earnings per share for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 1.9%. Herc’s dividend payout ratio (DPR) is currently -1,037.04%.

Analyst Upgrades and Downgrades

HRI has been the subject of a number of research analyst reports. Citigroup increased their price target on Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird lowered their target price on Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Zacks Research cut Herc from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings cut Herc from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lowered their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Herc has a consensus rating of “Hold” and an average price target of $165.67.

Herc Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.