Herc Holdings Inc. (NYSE:HRI) Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its holdings in Herc Holdings Inc. (NYSE:HRI) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,973 shares of the transportation company’s stock after purchasing an additional 74 shares during the period. SummerHaven Investment Management LLC’s holdings in Herc were worth $740,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. grew its position in Herc by 37.8% in the third quarter. Invesco Ltd. now owns 1,667,255 shares of the transportation company’s stock worth $198,303,000 after buying an additional 457,697 shares during the last quarter. Electron Capital Partners LLC grew its holdings in shares of Herc by 22.6% in the 3rd quarter. Electron Capital Partners LLC now owns 585,029 shares of the transportation company’s stock worth $69,583,000 after acquiring an additional 107,708 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Herc by 27.8% during the third quarter. Channing Capital Management LLC now owns 453,550 shares of the transportation company’s stock worth $53,945,000 after purchasing an additional 98,648 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Herc by 653.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 56,500 shares of the transportation company’s stock valued at $6,720,000 after purchasing an additional 49,000 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Herc by 14.9% during the third quarter. American Century Companies Inc. now owns 350,401 shares of the transportation company’s stock valued at $41,677,000 after purchasing an additional 45,427 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Aaron Birnbaum sold 5,844 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $152.33, for a total transaction of $890,216.52. Following the completion of the sale, the chief operating officer now directly owns 48,232 shares in the company, valued at $7,347,180.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Tamir Peres sold 3,545 shares of Herc stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $159.10, for a total transaction of $564,009.50. Following the completion of the sale, the senior vice president now directly owns 41,236 shares in the company, valued at approximately $6,560,647.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Aaron Birnbaum sold 5,844 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $152.33, for a total value of $890,216.52. Following the completion of the transaction, the chief operating officer now owns 48,232 shares in the company, valued at approximately $7,347,180.56. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HRI has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Herc from $117.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com raised shares of Herc from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Herc from $155.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Herc presently has a consensus rating of “Hold” and a consensus target price of $152.50.

Herc Stock Up 0.2 %

Shares of Herc stock opened at $152.58 on Tuesday. Herc Holdings Inc. has a 1 year low of $93.97 and a 1 year high of $171.00. The company has a market cap of $4.33 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.74 and a beta of 2.27. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.95. The stock has a 50-day moving average price of $159.18 and a 200 day moving average price of $142.29.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.05). Herc had a return on equity of 28.68% and a net margin of 10.31%. The company had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $858.06 million. During the same period last year, the company earned $3.44 earnings per share. Herc’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts expect that Herc Holdings Inc. will post 14.59 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Herc’s previous quarterly dividend of $0.63. Herc’s dividend payout ratio (DPR) is 21.97%.

About Herc

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.