Envestnet Asset Management Inc. Cuts Position in Herc Holdings Inc. $HRI

Envestnet Asset Management Inc. decreased its holdings in Herc Holdings Inc. (NYSE:HRI) by 32.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,495 shares of the transportation company’s stock after selling 9,687 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Herc worth $2,699,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its position 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 buying an additional 1,527,244 shares in the last quarter. Coliseum Capital Management LLC increased its holdings in Herc by 213.4% in the 1st quarter. Coliseum Capital Management LLC now owns 1,309,989 shares of the transportation company’s stock worth $175,892,000 after acquiring an additional 891,979 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Herc by 362.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 700,402 shares of the transportation company’s stock worth $92,236,000 after acquiring an additional 549,072 shares in the last quarter. Alliancebernstein L.P. raised its position 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 acquiring an additional 339,519 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Herc by 200.5% during the first quarter. Ameriprise Financial Inc. now owns 274,915 shares of the transportation company’s stock valued at $36,913,000 after purchasing an additional 183,433 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HRI. Wall Street Zen raised shares of Herc from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Robert W. Baird set a $200.00 price objective on Herc in a report on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Herc from $140.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Herc currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Herc Stock Up 0.7%

Shares of NYSE:HRI opened at $133.77 on Monday. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $236.39. The stock has a market cap of $4.45 billion, a P/E ratio of -53.08, a PEG ratio of 1.71 and a beta of 1.87. The business has a fifty day moving average of $129.30 and a two-hundred day moving average of $127.96. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 4.28.

Herc (NYSE:HRI) last announced its quarterly earnings results on Thursday, November 2nd. The transportation company reported $3.42 earnings per share for the quarter. Herc had a negative net margin of 1.68% and a positive return on equity of 16.32%. The firm had revenue of $745.00 million for the quarter. On average, research analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

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.