Jacobi Capital Management LLC Raises Holdings in Herc Holdings Inc. $HRI

Jacobi Capital Management LLC increased its holdings in Herc Holdings Inc. (NYSE:HRI) by 16.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,717 shares of the transportation company’s stock after acquiring an additional 379 shares during the period. Jacobi Capital Management LLC’s holdings in Herc were worth $365,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HRI. Invesco Ltd. lifted its stake in Herc by 104.7% during the first quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company’s stock worth $400,995,000 after purchasing an additional 1,527,244 shares in the last quarter. Coliseum Capital Management LLC lifted its stake in Herc by 213.4% during the first quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company’s stock worth $175,892,000 after purchasing an additional 891,979 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Herc by 135.6% during the first quarter. Alliancebernstein L.P. now owns 589,817 shares of the transportation company’s stock worth $79,195,000 after purchasing an additional 339,519 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Herc by 200.5% during the first quarter. Ameriprise Financial Inc. now owns 274,915 shares of the transportation company’s stock worth $36,913,000 after purchasing an additional 183,433 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Herc by 79.5% during the first quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company’s stock worth $40,217,000 after purchasing an additional 132,693 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Stock Performance

NYSE:HRI opened at $126.61 on Friday. The firm has a market capitalization of $4.21 billion, a PE ratio of 147.22, a price-to-earnings-growth ratio of 1.52 and a beta of 1.83. The business’s fifty day moving average price is $129.76 and its 200 day moving average price is $126.81. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $246.88.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.58. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $868.23 million. Herc had a return on equity of 20.77% and a net margin of 0.61%. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. Herc’s dividend payout ratio (DPR) is presently 325.58%.

Analyst Ratings Changes

HRI has been the topic of a number of research reports. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Robert W. Baird reduced their price objective on Herc from $142.00 to $137.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Finally, Citigroup reduced their price objective on Herc from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Herc currently has an average rating of “Moderate Buy” and a consensus target price of $144.60.

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.