Jennison Associates LLC Has $27.52 Million Holdings in Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC reduced its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 44.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,613 shares of the transportation company’s stock after selling 135,805 shares during the quarter. Jennison Associates LLC owned approximately 0.61% of Herc worth $27,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Whalen Wealth Management Inc. bought a new stake in shares of Herc during the third quarter worth approximately $771,000. Pathstone Holdings LLC increased its stake in shares of Herc by 2.5% in the 3rd quarter. Pathstone Holdings LLC now owns 21,679 shares of the transportation company’s stock valued at $3,456,000 after purchasing an additional 522 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Herc by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 55,960 shares of the transportation company’s stock worth $8,922,000 after acquiring an additional 236 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Herc during the 3rd quarter worth approximately $35,996,000. Finally, Natixis Advisors LLC bought a new position in shares of Herc in the 3rd quarter valued at $3,891,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Performance

Shares of HRI opened at $217.31 on Friday. Herc Holdings Inc. has a 52-week low of $119.08 and a 52-week high of $246.88. The stock’s 50-day simple moving average is $184.41 and its 200 day simple moving average is $155.72. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.13). Herc had a return on equity of 26.35% and a net margin of 10.09%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. During the same period in the previous year, the company posted $4.00 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HRI has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $212.25.

Insiders Place Their Bets

In related news, Director Michael A. Kelly sold 3,880 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the sale, the director now directly owns 13,774 shares in the company, valued at $2,876,424.42. This represents a 21.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the sale, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,880 shares of company stock valued at $3,342,960 over the last 90 days. Insiders own 1.80% of the company’s stock.

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.