Herc Holdings Inc. $HRI Holdings Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 514,471 shares of the transportation company’s stock after acquiring an additional 105,067 shares during the quarter. Bank of New York Mellon Corp’s holdings in Herc were worth $51,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in Herc by 342.1% in the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Advisory Services Network LLC acquired a new position in shares of Herc during the 3rd quarter valued at $35,000. Smartleaf Asset Management LLC raised its stake in shares of Herc by 50.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after buying an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Herc in the 3rd quarter worth $40,000. Finally, Covestor Ltd lifted its holdings in shares of Herc by 78.1% in the fourth quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock valued at $53,000 after buying an additional 157 shares during the period. Institutional investors own 93.11% of the company’s stock.

Herc Price Performance

NYSE HRI opened at $162.76 on Friday. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -602.80, a price-to-earnings-growth ratio of 27.42 and a beta of 1.88. The company has a 50 day simple moving average of $142.36 and a 200-day simple moving average of $137.10. Herc Holdings Inc. has a 52-week low of $88.45 and a 52-week high of $188.35.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. Equities research analysts predict that Herc Holdings Inc. will post 5.3 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 29th. Herc’s payout ratio is currently -1,037.04%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HRI. JPMorgan Chase & Co. raised their target price on Herc from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. 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 report on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of Herc in a research note on Monday, June 29th. They issued a “neutral” rating and a $160.00 price objective on the stock. Finally, Weiss Ratings raised shares of Herc from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Herc currently 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.