D.A. Davidson & CO. Has $4.69 Million Holdings in Herc Holdings Inc. $HRI

D.A. Davidson & CO. grew its position in shares of Herc Holdings Inc. (NYSE:HRI) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,148 shares of the transportation company’s stock after acquiring an additional 4,657 shares during the quarter. D.A. Davidson & CO.’s holdings in Herc were worth $4,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of HRI. Invesco Ltd. lifted its holdings in shares of Herc by 11.2% in the 3rd quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after purchasing an additional 413,719 shares in the last quarter. Norges Bank acquired a new stake in Herc in the 4th quarter valued at $287,269,000. Northwestern Mutual Wealth Management Co. increased its stake in Herc by 86,823.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after purchasing an additional 1,333,602 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Herc by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 993,833 shares of the transportation company’s stock valued at $147,480,000 after purchasing an additional 28,024 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Herc by 40.0% during the second quarter. Alliancebernstein L.P. now owns 825,511 shares of the transportation company’s stock worth $108,712,000 after buying an additional 235,694 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on HRI. Wells Fargo & Company raised their price objective on shares of Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane began coverage on shares of Herc in a report on Monday, June 29th. They issued a “neutral” rating and a $160.00 target price on the stock. Citigroup upped their target price on shares of Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings raised shares of Herc from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on Herc from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $173.43.

Herc Stock Performance

HRI stock opened at $149.36 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. The firm has a market cap of $4.99 billion, a PE ratio of -553.19, a P/E/G ratio of 27.13 and a beta of 1.88. The business has a 50 day moving average of $141.22 and a 200-day moving average of $137.18. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted $1.30 earnings per share. Herc’s quarterly revenue was up 32.3% compared to the same quarter last year. As a group, sell-side analysts expect that Herc Holdings Inc. will post 5.3 earnings per share for the current year.

Herc Announces Dividend

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

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.