Allspring Global Investments Holdings LLC trimmed its holdings in shares of Herc Holdings Inc. (NYSE:HRI – Free Report) by 82.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,116 shares of the transportation company’s stock after selling 52,048 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Herc were worth $1,521,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Raymond James & Associates boosted its stake in Herc by 60.9% in the 1st quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock worth $1,724,000 after purchasing an additional 3,904 shares during the period. PNC Financial Services Group Inc. boosted its stake 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. MetLife Investment Management LLC boosted its stake in Herc by 52.6% in the 1st quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock worth $2,206,000 after purchasing an additional 4,549 shares during the period. Rhumbline Advisers boosted its stake in Herc by 3.3% in the 1st quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock worth $4,740,000 after purchasing an additional 900 shares during the period. Finally, APG Asset Management N.V. acquired a new position in Herc in the 1st quarter worth approximately $2,238,000. 93.88% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Herc in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Robert W. Baird increased their target price on shares of Herc from $105.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. Bank of America downgraded shares of Herc from a “buy” rating to an “underperform” rating and cut their target price for the stock from $150.00 to $140.00 in a research report on Friday, July 21st. Finally, KeyCorp cut their target price on shares of Herc from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $147.25.
Insider Buying and Selling
In related news, CEO Lawrence Harris Silber sold 3,054 shares of Herc stock in a transaction on Monday, September 11th. The shares were sold at an average price of $128.94, for a total value of $393,782.76. Following the transaction, the chief executive officer now owns 221,956 shares in the company, valued at approximately $28,619,006.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
Herc Stock Up 1.3 %
Herc stock opened at $117.37 on Wednesday. The company has a market capitalization of $3.32 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.97 and a beta of 2.44. The firm’s fifty day simple moving average is $117.15 and its 200-day simple moving average is $120.09. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 3.14. Herc Holdings Inc. has a 1-year low of $93.97 and a 1-year high of $162.46.
Herc (NYSE:HRI – Get Free Report) last released its quarterly earnings results on Monday, October 23rd. The transportation company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.10). The business had revenue of $908.00 million for the quarter, compared to the consensus estimate of $893.11 million. Herc had a net margin of 10.93% and a return on equity of 32.27%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.42 EPS. Sell-side analysts forecast that Herc Holdings Inc. will post 12.23 earnings per share for the current fiscal year.
Herc Company 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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