D.A. Davidson & CO. Acquires 4,657 Shares of Herc Holdings Inc. $HRI

D.A. Davidson & CO. lifted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,148 shares of the transportation company’s stock after purchasing an additional 4,657 shares during the period. D.A. Davidson & CO. owned 0.14% of Herc worth $4,694,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HRI. UBS Group AG grew its position in shares of Herc by 83.2% in the 4th quarter. UBS Group AG now owns 189,925 shares of the transportation company’s stock valued at $28,181,000 after buying an additional 86,282 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Herc during the 4th quarter worth approximately $2,098,000. Allspring Global Investments Holdings LLC lifted its position in shares of Herc by 27.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,851 shares of the transportation company’s stock worth $15,669,000 after purchasing an additional 22,367 shares during the period. Norges Bank acquired a new position in shares of Herc in the 4th quarter worth approximately $287,269,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Herc by 7.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 175,066 shares of the transportation company’s stock valued at $25,976,000 after purchasing an additional 11,653 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HRI has been the subject of several recent analyst reports. Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upped their price target on shares of Herc from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Wells Fargo & Company upped their price target on shares of Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Herc from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. Finally, Citigroup lifted their price objective on Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $173.43.

Herc Stock Performance

Shares of HRI stock opened at $149.36 on Friday. The firm has a 50 day moving average of $141.22 and a 200-day moving average of $137.18. The company has a market cap of $4.99 billion, a price-to-earnings ratio of -553.19, a price-to-earnings-growth ratio of 27.13 and a beta of 1.88. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc Holdings Inc. has a 52 week low of $88.45 and a 52 week high of $188.35.

Herc (NYSE:HRI) last released its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. Herc’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. On average, equities analysts forecast that Herc Holdings Inc. will post 5.3 earnings per share for the current year.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Herc’s dividend payout ratio is -1,037.04%.

Herc Company 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.