Herc Holdings Inc. (NYSE:HRI) is Dorsey Asset Management LLC’s 9th Largest Position

Dorsey Asset Management LLC decreased its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 439,118 shares of the transportation company’s stock after selling 5,651 shares during the quarter. Herc accounts for about 7.0% of Dorsey Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Dorsey Asset Management LLC owned 1.55% of Herc worth $58,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HRI. SummerHaven Investment Management LLC increased its stake in Herc by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 5,147 shares of the transportation company’s stock worth $686,000 after purchasing an additional 108 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Herc by 3.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,086 shares of the transportation company’s stock valued at $811,000 after acquiring an additional 178 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Herc in the first quarter worth about $31,000. EverSource Wealth Advisors LLC grew its holdings in Herc by 650.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after acquiring an additional 208 shares in the last quarter. Finally, Midwest Financial Group LLC increased its position in Herc by 21.1% during the 1st quarter. Midwest Financial Group LLC now owns 1,840 shares of the transportation company’s stock valued at $310,000 after purchasing an additional 320 shares during the period. 93.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares in the company, valued at approximately $5,609,016.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the transaction, the chief operating officer now owns 38,232 shares in the company, valued at approximately $5,609,016.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total transaction of $925,713.63. Following the sale, the senior vice president now owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Herc Stock Performance

Shares of HRI opened at $157.15 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The firm has a market cap of $4.46 billion, a PE ratio of 12.98, a P/E/G ratio of 0.95 and a beta of 2.07. Herc Holdings Inc. has a 12 month low of $100.17 and a 12 month high of $171.00. The stock has a fifty day moving average price of $142.52 and a 200-day moving average price of $146.16.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a return on equity of 26.99% and a net margin of 10.00%. The business had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $813.05 million. Equities research analysts predict that Herc Holdings Inc. will post 13.68 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 1.69%. Herc’s dividend payout ratio (DPR) is 21.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HRI shares. JPMorgan Chase & Co. initiated coverage on shares of Herc in a research report on Friday, June 7th. They issued a “neutral” rating and a $155.00 price target for the company. StockNews.com downgraded Herc from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, Robert W. Baird restated a “neutral” rating and set a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $159.50.

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.