Herc Holdings Inc. $HRI Shares Sold by Capital World Investors

Capital World Investors reduced its position in Herc Holdings Inc. (NYSE:HRI) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,100,954 shares of the transportation company’s stock after selling 75,501 shares during the quarter. Capital World Investors owned about 3.31% of Herc worth $163,360,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its stake in Herc by 342.1% in the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Herc in the 3rd quarter valued at $31,000. Advisory Services Network LLC acquired a new position in Herc in the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Herc in the 3rd quarter valued at $40,000. Finally, NewEdge Advisors LLC raised its stake in Herc by 628.8% in the 3rd quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 371 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings downgraded Herc from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 21st. KeyCorp cut their target price on Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Zacks Research downgraded Herc from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, Wells Fargo & Company raised their target price on Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Herc has a consensus rating of “Hold” and an average price target of $165.67.

Herc Stock Up 6.4%

Shares of HRI opened at $145.38 on Tuesday. Herc Holdings Inc. has a 52-week low of $88.45 and a 52-week high of $188.35. The company has a market capitalization of $4.85 billion, a PE ratio of -538.44, a price-to-earnings-growth ratio of 24.75 and a beta of 1.89. The stock has a fifty day simple moving average of $120.84 and a two-hundred day simple moving average of $136.78. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $1.30 EPS. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. As a group, equities analysts forecast that Herc Holdings Inc. will post 5.31 EPS for the current year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.9%. Herc’s dividend payout ratio is currently -1,037.04%.

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.