Corient Private Wealth LLC Buys Shares of 5,626 Herc Holdings Inc. $HRI

Corient Private Wealth LLC bought a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the second quarter, HoldingsChannel reports. The firm bought 5,626 shares of the transportation company’s stock, valued at approximately $741,000.

Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Herc during the 2nd quarter worth approximately $36,000. Byrne Asset Management LLC acquired a new stake in Herc during the 2nd quarter valued at $45,000. FNY Investment Advisers LLC acquired a new stake in Herc during the 2nd quarter valued at $47,000. AlphaQuest LLC increased its position in Herc by 158.2% during the second quarter. AlphaQuest LLC now owns 364 shares of the transportation company’s stock worth $48,000 after buying an additional 223 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Herc by 114.7% in the second quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company’s stock worth $77,000 after acquiring an additional 312 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HRI has been the topic of a number of analyst reports. Citigroup increased their price objective on Herc from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Baird R W raised shares of Herc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Wall Street Zen upgraded shares of Herc from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Robert W. Baird set a $200.00 price objective on shares of Herc in a research note on Wednesday, October 29th. Finally, KeyCorp set a $200.00 target price on shares of Herc and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $170.86.

Herc Trading Up 0.0%

Shares of HRI stock opened at $156.45 on Friday. The firm’s 50-day simple moving average is $139.99 and its 200-day simple moving average is $131.70. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.22 and a quick ratio of 1.22. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $212.19. The firm has a market cap of $5.20 billion, a P/E ratio of -62.08, a PEG ratio of 1.62 and a beta of 1.81.

Herc (NYSE:HRI) last issued its quarterly earnings results on Thursday, November 2nd. The transportation company reported $3.42 EPS for the quarter. The firm had revenue of $745.00 million during the quarter. Herc had a negative net margin of 1.68% and a positive return on equity of 16.32%. As a group, equities analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, December 15th. Herc’s dividend payout ratio (DPR) is -111.11%.

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.