Herc Holdings Inc. (HRI) To Go Ex-Dividend on September 2nd

Herc Holdings Inc. (NYSE:HRI) declared a quarterly dividend on Wednesday, August 19th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.70 per share by the transportation company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, September 2nd.

Herc has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Herc to earn $7.87 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 35.6%.

Herc Stock Down 4.0%

NYSE:HRI opened at $161.35 on Friday. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 109.76, a PEG ratio of 23.34 and a beta of 1.87. Herc has a 1-year low of $88.45 and a 1-year high of $188.35. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22. The business’s fifty day moving average price is $153.58 and its 200 day moving average price is $137.65.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $1.87 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts forecast that Herc will post 6.93 earnings per share for the current fiscal year.

Institutional Trading of Herc

A number of institutional investors have recently added to or reduced their stakes in HRI. UBS Group AG grew its stake in Herc by 83.2% in the 4th quarter. UBS Group AG now owns 189,925 shares of the transportation company’s stock valued at $28,181,000 after buying an additional 86,282 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Herc during the 1st quarter worth $6,234,000. Pier Capital LLC lifted its position in Herc by 21.2% during the 4th quarter. Pier Capital LLC now owns 69,196 shares of the transportation company’s stock worth $10,267,000 after acquiring an additional 12,114 shares during the last quarter. Norges Bank bought a new stake in Herc during the fourth quarter valued at about $287,269,000. Finally, Jennison Associates LLC bought a new stake in Herc during the fourth quarter valued at about $8,289,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Company 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.