Principal Financial Group Inc. Sells 1,190 Shares of Herc Holdings Inc. (NYSE:HRI)

Principal Financial Group Inc. cut its holdings in Herc Holdings Inc. (NYSE:HRI) by 31.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,612 shares of the transportation company’s stock after selling 1,190 shares during the period. Principal Financial Group Inc.’s holdings in Herc were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HRI. EverSource Wealth Advisors LLC lifted its holdings in shares of Herc by 650.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after purchasing an additional 208 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Herc by 27.7% in the third quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock valued at $45,000 after buying an additional 61 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Herc by 369.9% during the third quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after buying an additional 270 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Herc by 704.2% during the third quarter. GAMMA Investing LLC now owns 386 shares of the transportation company’s stock worth $62,000 after acquiring an additional 338 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Herc by 300.5% during the second quarter. Headlands Technologies LLC now owns 749 shares of the transportation company’s stock worth $100,000 after acquiring an additional 562 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $212.25.

Herc Trading Up 2.4 %

Shares of HRI stock opened at $222.92 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc Holdings Inc. has a 12-month low of $119.08 and a 12-month high of $246.88. The stock has a market capitalization of $6.33 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.25 and a beta of 2.02. The firm’s 50 day moving average is $187.77 and its 200 day moving average is $156.74.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.13). Herc had a return on equity of 26.35% and a net margin of 10.09%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. During the same period in the previous year, the firm earned $4.00 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that Herc Holdings Inc. will post 13.59 earnings per share for the current year.

Insider Buying and Selling at Herc

In other news, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the completion of the sale, the senior vice president now owns 21,586 shares of the company’s stock, valued at $4,600,408.32. The trade was a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. Kelly sold 3,880 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total value of $810,260.40. Following the completion of the sale, the director now owns 13,774 shares of the company’s stock, valued at $2,876,424.42. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

About Herc

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.