Nuveen Asset Management LLC Increases Stake in Herc Holdings Inc. (NYSE:HRI)

Nuveen Asset Management LLC boosted its stake in Herc Holdings Inc. (NYSE:HRI) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,587 shares of the transportation company’s stock after purchasing an additional 4,802 shares during the period. Nuveen Asset Management LLC owned about 0.30% of Herc worth $16,015,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of HRI. Capital World Investors increased its stake in Herc by 435.8% in the 4th quarter. Capital World Investors now owns 1,419,015 shares of the transportation company’s stock worth $268,662,000 after purchasing an additional 1,154,182 shares during the period. Norges Bank purchased a new position in Herc in the 4th quarter worth approximately $183,786,000. FMR LLC increased its stake in Herc by 69.0% in the 4th quarter. FMR LLC now owns 1,245,168 shares of the transportation company’s stock worth $235,748,000 after purchasing an additional 508,359 shares during the period. Capital International Investors increased its stake in Herc by 58.9% in the 4th quarter. Capital International Investors now owns 561,377 shares of the transportation company’s stock worth $106,286,000 after purchasing an additional 208,158 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Herc by 578.8% in the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company’s stock worth $43,760,000 after purchasing an additional 197,082 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Trading Down 1.6%

NYSE HRI opened at $125.81 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a twelve month low of $96.19 and a twelve month high of $246.88. The firm has a market capitalization of $3.59 billion, a PE ratio of 16.98, a P/E/G ratio of 1.61 and a beta of 1.85. The stock’s 50 day moving average is $124.12 and its 200 day moving average is $168.11.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $841.67 million. During the same quarter in the prior year, the firm earned $2.36 earnings per share. Research analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, May 30th. Herc’s dividend payout ratio (DPR) is 62.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HRI. The Goldman Sachs Group reiterated a “buy” rating and issued a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Barclays cut their price objective on Herc from $250.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird cut their price objective on Herc from $129.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on Herc from $225.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Citigroup cut their price objective on Herc from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.20.

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.