Capital International Investors Acquires 20,551 Shares of Herc Holdings Inc. $HRI

Capital International Investors lifted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 31.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,681 shares of the transportation company’s stock after buying an additional 20,551 shares during the quarter. Capital International Investors owned about 0.26% of Herc worth $9,996,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Herc by 176.9% in the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock valued at $3,462,000 after purchasing an additional 16,470 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Herc by 25.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock valued at $35,337,000 after buying an additional 53,054 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Herc by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 164,521 shares of the transportation company’s stock valued at $21,666,000 after buying an additional 14,297 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Herc in the second quarter worth about $650,000. Finally, ProShare Advisors LLC boosted its position in shares of Herc by 10.0% in the second quarter. ProShare Advisors LLC now owns 6,705 shares of the transportation company’s stock valued at $883,000 after acquiring an additional 611 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HRI shares. Citigroup lowered their target price on shares of Herc from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird reduced their price target on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. KeyCorp lowered their price objective on Herc from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Herc has an average rating of “Moderate Buy” and a consensus price target of $175.43.

Herc Stock Down 3.9%

Shares of NYSE:HRI opened at $111.00 on Friday. The firm has a market capitalization of $3.70 billion, a PE ratio of -616.67, a price-to-earnings-growth ratio of 15.57 and a beta of 1.73. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $188.35. The firm has a fifty day moving average of $153.69 and a 200 day moving average of $141.35.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $3.58 earnings per share. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. As a group, research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were given a $0.70 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.5%. Herc’s payout ratio is presently -1,555.56%.

About Herc

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.