Metropolitan Life Insurance Co NY Cuts Stake in Herc Holdings Inc. (NYSE:HRI)

Metropolitan Life Insurance Co NY trimmed its position in shares of Herc Holdings Inc. (NYSE:HRIGet Rating) by 75.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,552 shares of the transportation company’s stock after selling 4,798 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Herc were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HRI. SOA Wealth Advisors LLC. bought a new stake in shares of Herc during the first quarter valued at approximately $28,000. First Quadrant LLC CA purchased a new position in Herc in the first quarter worth about $38,000. Covestor Ltd purchased a new stake in shares of Herc during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. raised its holdings in Herc by 90.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after purchasing an additional 150 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Herc in the fourth quarter worth about $63,000. 94.67% of the stock is currently owned by institutional investors.

Herc Stock Up 2.2 %

NYSE:HRI opened at $116.65 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $3.49 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.40 and a beta of 2.69. The company’s 50-day simple moving average is $110.68 and its 200-day simple moving average is $124.73. Herc Holdings Inc. has a fifty-two week low of $83.43 and a fifty-two week high of $203.14.

Herc (NYSE:HRIGet Rating) last released its quarterly earnings results on Thursday, July 21st. The transportation company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.11). Herc had a net margin of 11.76% and a return on equity of 28.42%. The business had revenue of $640.40 million during the quarter, compared to analysts’ expectations of $631.11 million. During the same quarter last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities analysts anticipate that Herc Holdings Inc. will post 11.81 earnings per share for the current fiscal year.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, August 18th. Herc’s dividend payout ratio is presently 25.47%.

Insider Buying and Selling at Herc

In related news, CFO Mark Irion bought 218 shares of the stock in a transaction dated Friday, June 10th. The shares were purchased at an average price of $116.88 per share, for a total transaction of $25,479.84. Following the completion of the purchase, the chief financial officer now directly owns 51,714 shares of the company’s stock, valued at $6,044,332.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

HRI has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Herc from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Wells Fargo & Company decreased their target price on Herc to $165.00 in a research report on Friday, July 22nd. Finally, KeyCorp lifted their price objective on shares of Herc from $130.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.83.

Herc Company Profile

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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.

See Also

Institutional Ownership by Quarter for Herc (NYSE:HRI)

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