Canada Pension Plan Investment Board Takes Position in Herc Holdings Inc. (NYSE:HRI)

Canada Pension Plan Investment Board purchased a new stake in Herc Holdings Inc. (NYSE:HRIGet Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,900 shares of the transportation company’s stock, valued at approximately $1,652,000. Canada Pension Plan Investment Board owned approximately 0.05% of Herc as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HRI. Raymond James & Associates grew its position in shares of Herc by 60.9% in the first quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock valued at $1,724,000 after purchasing an additional 3,904 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Herc by 90.9% during the first quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after buying an additional 150 shares in the last quarter. MetLife Investment Management LLC grew its position in Herc by 52.6% during the first quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock worth $2,206,000 after buying an additional 4,549 shares in the last quarter. Rhumbline Advisers grew its position in Herc by 3.3% during the first quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock worth $4,740,000 after buying an additional 900 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new position in Herc during the first quarter worth about $2,238,000. 96.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Lawrence Harris Silber sold 16,714 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $149.95, for a total value of $2,506,264.30. Following the completion of the sale, the chief executive officer now owns 227,393 shares of the company’s stock, valued at approximately $34,097,580.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Carl C. Icahn sold 119,106 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $133.50, for a total transaction of $15,900,651.00. Following the transaction, the insider now owns 3,696,445 shares in the company, valued at approximately $493,475,407.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lawrence Harris Silber sold 16,714 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $149.95, for a total value of $2,506,264.30. Following the transaction, the chief executive officer now owns 227,393 shares in the company, valued at approximately $34,097,580.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 571,285 shares of company stock valued at $84,187,803. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays boosted their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. KeyCorp boosted their target price on Herc from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.60.

Herc Trading Up 0.8 %

Shares of HRI stock opened at $142.09 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.73. The business has a 50-day moving average price of $143.89 and a two-hundred day moving average price of $128.01. Herc Holdings Inc. has a 12-month low of $83.43 and a 12-month high of $171.74. The firm has a market cap of $4.14 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.68 and a beta of 2.49.

Herc (NYSE:HRIGet Rating) last released its earnings results on Tuesday, February 14th. The transportation company reported $3.44 earnings per share for the quarter, missing analysts’ consensus estimates of $3.50 by ($0.06). Herc had a net margin of 12.05% and a return on equity of 31.88%. The company had revenue of $786.00 million during the quarter, compared to the consensus estimate of $773.29 million. During the same period last year, the firm posted $2.46 EPS. The company’s revenue was up 36.0% on a year-over-year basis. Equities analysts anticipate that Herc Holdings Inc. will post 14.34 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Wednesday, February 22nd will be paid a $0.632 dividend. This represents a $2.53 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, February 21st. This is a positive change from Herc’s previous quarterly dividend of $0.58. Herc’s payout ratio is 23.15%.

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.

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Institutional Ownership by Quarter for Herc (NYSE:HRI)

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