Allspring Global Investments Holdings LLC Has $9.16 Million Position in Herc Holdings Inc. $HRI

Allspring Global Investments Holdings LLC cut its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,409 shares of the transportation company’s stock after selling 5,442 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Herc were worth $9,159,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Advisory Services Network LLC bought a new stake in Herc during the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Herc during the third quarter valued at approximately $40,000. NewEdge Advisors LLC boosted its position in Herc by 628.8% during the third 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. Finally, Smartleaf Asset Management LLC grew its stake in Herc by 50.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 111 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Price Performance

Shares of NYSE HRI opened at $150.89 on Thursday. 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 business’s 50 day moving average price is $141.91 and its two-hundred day moving average price is $137.03. The company has a market cap of $5.04 billion, a PE ratio of -558.87, a price-to-earnings-growth ratio of 26.86 and a beta of 1.88. Herc Holdings Inc. has a twelve month low of $88.45 and a twelve month high of $188.35.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm posted $1.30 earnings per share. The business’s revenue was up 32.3% on a year-over-year basis. On average, analysts predict that Herc Holdings Inc. will post 5.3 EPS for the current year.

Herc Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on HRI. Wells Fargo & Company boosted their price target on Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane began coverage on shares of Herc in a research note on Monday, June 29th. They issued a “neutral” rating and a $160.00 target price for the company. Citigroup boosted 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, July 14th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Herc from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $173.43.

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.