Jennison Associates LLC Lowers Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC lowered its holdings in Herc Holdings Inc. (NYSE:HRI) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,067 shares of the transportation company’s stock after selling 4,076 shares during the period. Jennison Associates LLC’s holdings in Herc were worth $1,482,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HRI. First Trust Advisors LP grew its position in Herc by 95.0% during the first quarter. First Trust Advisors LP now owns 81,865 shares of the transportation company’s stock valued at $3,191,000 after acquiring an additional 39,880 shares during the period. Envestnet Asset Management Inc. grew its position in Herc by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 22,117 shares of the transportation company’s stock valued at $2,479,000 after acquiring an additional 2,466 shares during the period. Teacher Retirement System of Texas grew its position in Herc by 17.6% during the second quarter. Teacher Retirement System of Texas now owns 2,673 shares of the transportation company’s stock valued at $300,000 after acquiring an additional 400 shares during the period. US Bancorp DE grew its position in Herc by 13.2% during the second quarter. US Bancorp DE now owns 997 shares of the transportation company’s stock valued at $112,000 after acquiring an additional 116 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Herc by 22.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,290 shares of the transportation company’s stock valued at $145,000 after acquiring an additional 240 shares during the period. 93.85% of the stock is owned by institutional investors and hedge funds.

In other Herc news, major shareholder Carl C. Icahn sold 87,952 shares of the company’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $182.63, for a total transaction of $16,062,673.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Carl C. Icahn sold 29,960 shares of the company’s stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $180.40, for a total value of $5,404,784.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,622 shares of company stock worth $35,259,811. Insiders own 1.30% of the company’s stock.

A number of equities research analysts have issued reports on HRI shares. Robert W. Baird downgraded Herc from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $222.00 to $161.00 in a research report on Tuesday, December 21st. Zacks Investment Research downgraded Herc from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 23rd. KeyCorp upped their target price on Herc from $175.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, October 22nd. Barclays upped their target price on Herc from $135.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 28th. Finally, The Goldman Sachs Group upped their target price on Herc from $143.00 to $164.00 and gave the stock a “buy” rating in a research report on Tuesday, September 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $183.00.

NYSE:HRI opened at $162.96 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.05 and a current ratio of 1.05. Herc Holdings Inc. has a one year low of $61.19 and a one year high of $203.14. The business’s 50-day simple moving average is $171.76 and its 200 day simple moving average is $150.60. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 26.28 and a beta of 2.74.

Herc (NYSE:HRI) last released its quarterly earnings results on Thursday, October 21st. The transportation company reported $2.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.04. Herc had a return on equity of 23.75% and a net margin of 9.32%. The business had revenue of $550.40 million for the quarter, compared to analysts’ expectations of $552.06 million. During the same quarter in the previous year, the firm posted $1.35 earnings per share. The company’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts predict that Herc Holdings Inc. will post 7.62 EPS for the current year.

Herc Profile

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.

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Institutional Ownership by Quarter for Herc (NYSE:HRI)

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