HighTower Advisors LLC Reduces Position in Herc Holdings Inc. $HRI

HighTower Advisors LLC decreased its position in Herc Holdings Inc. (NYSE:HRI) by 5.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,355 shares of the transportation company’s stock after selling 210 shares during the period. HighTower Advisors LLC’s holdings in Herc were worth $450,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Motley Fool Asset Management LLC boosted its holdings in shares of Herc by 1.7% in the first quarter. Motley Fool Asset Management LLC now owns 50,190 shares of the transportation company’s stock valued at $6,739,000 after purchasing an additional 830 shares during the period. Nuveen LLC purchased a new stake in shares of Herc in the first quarter valued at approximately $14,528,000. Invesco Ltd. boosted its holdings in shares of Herc by 104.7% in the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company’s stock valued at $400,995,000 after purchasing an additional 1,527,244 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Herc in the first quarter valued at approximately $6,792,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Herc by 212.3% in the first quarter. Wolverine Asset Management LLC now owns 3,644 shares of the transportation company’s stock valued at $489,000 after purchasing an additional 2,477 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Stock Performance

Shares of HRI stock opened at $130.74 on Monday. The business’s fifty day simple moving average is $130.19 and its 200-day simple moving average is $129.40. The company has a market cap of $4.35 billion, a PE ratio of 152.03, a PEG ratio of 1.54 and a beta of 1.83. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.37. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.58. Herc had a return on equity of 20.77% and a net margin of 0.61%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $868.23 million. Analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 22nd. Herc’s payout ratio is 325.58%.

Analysts Set New Price Targets

HRI has been the subject of a number of research reports. Robert W. Baird lowered their price target on Herc from $142.00 to $137.00 and set a “neutral” rating for the company in a report on Wednesday, July 30th. Citigroup lowered their price target on Herc from $170.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.60.

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.