Allspring Global Investments Holdings LLC Cuts Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Allspring Global Investments Holdings LLC trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI) by 12.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,376 shares of the transportation company’s stock after selling 946 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Herc were worth $949,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HRI. Invesco Ltd. boosted its holdings in Herc by 37.8% during the 3rd quarter. Invesco Ltd. now owns 1,667,255 shares of the transportation company’s stock worth $198,303,000 after acquiring an additional 457,697 shares during the last quarter. Electron Capital Partners LLC boosted its holdings in Herc by 22.6% during 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 boosted its holdings in Herc by 27.8% during the 3rd quarter. Channing Capital Management LLC now owns 453,550 shares of the transportation company’s stock worth $53,945,000 after acquiring an additional 98,648 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Herc by 653.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 56,500 shares of the transportation company’s stock worth $6,720,000 after acquiring an additional 49,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Herc by 14.9% during the 3rd quarter. American Century Companies Inc. now owns 350,401 shares of the transportation company’s stock worth $41,677,000 after acquiring an additional 45,427 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Herc

In related news, SVP Tamir Peres sold 3,545 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $159.10, for a total value of $564,009.50. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their price objective on shares of Herc from $117.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. The Goldman Sachs Group boosted their price target on shares of Herc from $155.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $152.50.

Herc Price Performance

Shares of NYSE:HRI opened at $153.50 on Wednesday. The company’s 50-day moving average is $158.71 and its 200 day moving average is $141.12. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $4.35 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27. Herc Holdings Inc. has a fifty-two week low of $93.97 and a fifty-two week high of $171.00.

Herc (NYSE:HRI) last announced its quarterly earnings data 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 net margin of 10.58% and a return on equity of 30.21%. The firm had revenue of $831.00 million during the quarter, compared to the consensus estimate of $858.06 million. During the same quarter in the prior year, the firm posted $3.44 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that Herc Holdings Inc. will post 14.75 earnings per share for the current year.

Herc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Wednesday, February 21st were paid a $0.665 dividend. This is a boost from Herc’s previous quarterly dividend of $0.63. This represents a $2.66 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, February 20th. Herc’s payout ratio is currently 21.98%.

Herc 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.