Allspring Global Investments Holdings LLC Has $15.67 Million Position in Herc Holdings Inc. $HRI

Allspring Global Investments Holdings LLC lifted its position in Herc Holdings Inc. (NYSE:HRI) by 27.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 102,851 shares of the transportation company’s stock after purchasing an additional 22,367 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.31% of Herc worth $15,669,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in Herc by 53.1% in the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Herc during the third quarter valued at approximately $31,000. Advisory Services Network LLC bought a new stake in shares of Herc during the third quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Herc during the third quarter worth $40,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Herc by 628.8% during the third quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Price Performance

Shares of HRI stock opened at $91.05 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35. The firm has a fifty day moving average of $134.53 and a 200-day moving average of $138.09. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -505.82, a price-to-earnings-growth ratio of 12.28 and a beta of 1.81.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, topping the consensus estimate 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 EPS. The firm’s revenue was up 27.1% compared to the same quarter last year. On average, equities research analysts forecast that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, February 18th. Herc’s dividend payout ratio is -1,555.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Herc from $150.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Robert W. Baird lowered their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. Citigroup dropped their target price on shares of Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, March 9th. KeyCorp cut their price target on Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Finally, Barclays raised their price target on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $171.86.

Herc Profile

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.