Allianz Asset Management GmbH Has $3.88 Million Stock Position in Herc Holdings Inc. $HRI

Allianz Asset Management GmbH lowered its position in Herc Holdings Inc. (NYSE:HRI) by 71.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,213 shares of the transportation company’s stock after selling 81,162 shares during the quarter. Allianz Asset Management GmbH’s holdings in Herc were worth $3,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRI. Invesco Ltd. lifted its holdings in shares of Herc by 24.2% during the 2nd quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after acquiring an additional 723,239 shares during the period. Norges Bank acquired a new stake in Herc during the 2nd quarter valued at $242,697,000. American Century Companies Inc. raised its position in Herc by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 1,204,740 shares of the transportation company’s stock valued at $158,653,000 after purchasing an additional 271,532 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Herc by 2.4% in the second quarter. Gamco Investors INC. ET AL now owns 1,113,836 shares of the transportation company’s stock valued at $146,681,000 after buying an additional 25,634 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Herc by 34.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 943,722 shares of the transportation company’s stock worth $110,095,000 after acquiring an additional 243,320 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HRI has been the topic of a number of research reports. KeyCorp set a $200.00 target price on shares of Herc and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Robert W. Baird set a $200.00 price objective on shares of Herc in a research report on Wednesday, October 29th. Wall Street Zen raised Herc from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. Finally, Barclays upped their price objective on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.43.

Herc Price Performance

Shares of Herc stock opened at $181.44 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 4.28. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -72.00, a price-to-earnings-growth ratio of 1.66 and a beta of 1.77. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $211.80. The company has a 50-day simple moving average of $157.21 and a two-hundred day simple moving average of $138.20.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, February 18th. Herc’s payout ratio is -111.11%.

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.