Sterling Capital Management LLC Sells 3,480 Shares of Herc Holdings Inc. $HRI

Sterling Capital Management LLC cut its stake in Herc Holdings Inc. (NYSE:HRI) by 15.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,213 shares of the transportation company’s stock after selling 3,480 shares during the period. Sterling Capital Management LLC owned about 0.06% of Herc worth $1,913,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HRI. Invesco Ltd. raised its position in Herc by 11.2% during the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock valued at $481,040,000 after purchasing an additional 413,719 shares in the last quarter. Norges Bank purchased a new position in shares of Herc in the 4th quarter worth about $287,269,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Herc by 86,823.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after purchasing an additional 1,333,602 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Herc by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock valued at $151,889,000 after buying an additional 97,235 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Herc by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 993,833 shares of the transportation company’s stock valued at $147,480,000 after buying an additional 28,024 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Herc Trading Down 3.7%

Shares of HRI stock opened at $145.67 on Tuesday. The stock has a market capitalization of $4.86 billion, a PE ratio of -539.53, a P/E/G ratio of 27.39 and a beta of 1.89. Herc Holdings Inc. has a 1-year low of $88.45 and a 1-year high of $188.35. The business has a 50-day moving average of $135.77 and a 200 day moving average of $138.23. 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, topping the consensus estimate of ($0.21) by $0.42. The business 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 period last year, the company earned $1.30 EPS. As a group, sell-side analysts anticipate that Herc Holdings Inc. will post 5.31 earnings per share for the current year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.70 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 1.9%. Herc’s dividend payout ratio (DPR) is currently -1,037.04%.

Analyst Ratings Changes

Several brokerages have issued reports on HRI. Citigroup upped their target price on Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Wells Fargo & Company boosted their price objective on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, KeyCorp reduced their target price on shares of Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $164.86.

About Herc

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.