Raymond James & Associates Sells 1,351 Shares of Herc Holdings Inc. (NYSE:HRI)

Raymond James & Associates decreased its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 22.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,599 shares of the transportation company’s stock after selling 1,351 shares during the quarter. Raymond James & Associates’ holdings in Herc were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Herc during the 3rd quarter valued at $775,000. Ziegler Capital Management LLC increased its position in shares of Herc by 88.9% during the third quarter. Ziegler Capital Management LLC now owns 2,780 shares of the transportation company’s stock valued at $331,000 after buying an additional 1,308 shares during the period. Welch Group LLC lifted its holdings in shares of Herc by 17.5% in the third quarter. Welch Group LLC now owns 2,350 shares of the transportation company’s stock worth $280,000 after buying an additional 350 shares in the last quarter. Argent Capital Management LLC boosted its position in shares of Herc by 33.4% in the third quarter. Argent Capital Management LLC now owns 2,195 shares of the transportation company’s stock valued at $261,000 after acquiring an additional 549 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Herc by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 176,796 shares of the transportation company’s stock valued at $21,028,000 after acquiring an additional 6,944 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Buying and Selling at Herc

In other news, SVP Tamir Peres sold 3,545 shares of Herc 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 transaction, the senior vice president now owns 41,236 shares in the company, valued at $6,560,647.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Herc Price Performance

HRI opened at $153.74 on Thursday. The stock has a 50-day moving average price of $158.91 and a 200-day moving average price of $141.21. The stock has a market capitalization of $4.36 billion, a P/E ratio of 12.71, a PEG ratio of 0.72 and a beta of 2.27. Herc Holdings Inc. has a 12-month low of $93.97 and a 12-month high of $171.00. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.97.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, February 13th. The transportation company reported $3.24 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.05). The business had revenue of $831.00 million for the quarter, compared to the consensus estimate of $858.06 million. Herc had a net margin of 10.58% and a return on equity of 30.21%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.44 earnings per share. Equities analysts predict that Herc Holdings Inc. will post 14.75 earnings per share for the current fiscal year.

Herc Increases Dividend

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

Analysts Set New Price Targets

HRI has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Herc from $155.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com raised Herc from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird upped their target price on Herc from $117.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $152.50.

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.