Allspring Global Investments Holdings LLC Purchases 22,367 Shares of Herc Holdings Inc. $HRI

Allspring Global Investments Holdings LLC raised its position in Herc Holdings Inc. (NYSE:HRI) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 102,851 shares of the transportation company’s stock after purchasing an additional 22,367 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Herc were worth $15,669,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HRI. Invesco Ltd. raised its holdings in shares of Herc by 11.2% in 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 during the last quarter. Marshall Wace LLP boosted its stake in shares of Herc by 233.1% during the 3rd quarter. Marshall Wace LLP now owns 420,512 shares of the transportation company’s stock worth $49,057,000 after buying an additional 294,265 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Herc by 3,306.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 292,328 shares of the transportation company’s stock worth $34,106,000 after buying an additional 283,746 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Herc by 34.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 943,722 shares of the transportation company’s stock valued at $110,095,000 after acquiring an additional 243,320 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Herc by 40.0% in the 2nd quarter. Alliancebernstein L.P. now owns 825,511 shares of the transportation company’s stock valued at $108,712,000 after acquiring an additional 235,694 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HRI. JPMorgan Chase & Co. upped their target price on Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Citigroup decreased their price target on Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Wells Fargo & Company upped their price objective on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Barclays increased their price objective on Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, KeyCorp decreased their target price on shares of Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.86.

Herc Price Performance

NYSE:HRI opened at $91.05 on Friday. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -505.82, a P/E/G ratio of 12.28 and a beta of 1.81. The stock’s 50 day moving average price is $134.53 and its two-hundred day moving average price is $138.09. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.87 by $0.20. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.58 EPS. On average, analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Herc’s payout ratio is -1,555.56%.

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.