Cardinal Point Capital Management ULC Takes $374,000 Position in Herc Holdings Inc. $HRI

Cardinal Point Capital Management ULC purchased a new position in shares of Herc Holdings Inc. (NYSE:HRI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,756 shares of the transportation company’s stock, valued at approximately $374,000.

Several other hedge funds have also made changes to their positions in HRI. Invesco Ltd. increased its position in Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after buying an additional 413,719 shares during the period. Norges Bank acquired a new position in shares of Herc during the fourth quarter valued at $287,269,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after acquiring an additional 1,333,602 shares during the period. American Century Companies Inc. boosted its holdings in shares of Herc by 8.1% during the third quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock valued at $151,889,000 after acquiring an additional 97,235 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Herc by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 993,833 shares of the transportation company’s stock worth $147,480,000 after acquiring an additional 28,024 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on HRI shares. Wells Fargo & Company lifted their price objective on shares of Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Citigroup upped their target price on shares of Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of Herc from $165.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, KeyCorp reduced their price objective on Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.67.

Herc Price Performance

Shares of NYSE HRI opened at $153.28 on Friday. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The firm’s 50-day simple moving average is $133.91 and its 200 day simple moving average is $138.12. 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 stock has a market cap of $5.12 billion, a P/E ratio of -567.70, a P/E/G ratio of 25.94 and a beta of 1.89.

Herc (NYSE:HRI) last announced its earnings results 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. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. Herc’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. Equities analysts expect that Herc Holdings Inc. will post 5.31 EPS for the current year.

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, May 29th. Herc’s dividend payout ratio is currently -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.