California Public Employees Retirement System Has $5.42 Million Stock Position in Herc Holdings Inc. $HRI

California Public Employees Retirement System reduced its position in shares of Herc Holdings Inc. (NYSE:HRI) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,409 shares of the transportation company’s stock after selling 4,023 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Herc worth $5,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS Group AG lifted its holdings 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 worth $28,181,000 after purchasing an additional 86,282 shares in the last quarter. Pier Capital LLC grew its position in Herc by 21.2% in the 4th quarter. Pier Capital LLC now owns 69,196 shares of the transportation company’s stock valued at $10,267,000 after purchasing an additional 12,114 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Herc by 27.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,851 shares of the transportation company’s stock valued at $15,669,000 after purchasing an additional 22,367 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Herc during the fourth quarter worth $2,098,000. Finally, Norges Bank acquired a new position in Herc during the fourth quarter worth $287,269,000. Institutional investors own 93.11% of the company’s stock.

Herc Stock Down 0.2%

HRI stock opened at $162.33 on Monday. The stock has a market cap of $5.42 billion, a P/E ratio of -601.21, a P/E/G ratio of 29.52 and a beta of 1.88. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.24. The stock’s fifty day simple moving average is $142.83 and its two-hundred day simple moving average is $137.13. Herc Holdings Inc. has a 1-year low of $88.45 and a 1-year high of $188.35.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.42. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The business’s revenue was up 32.3% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. Analysts expect that Herc Holdings Inc. will post 5.3 EPS for the current year.

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 29th. Herc’s payout ratio is presently -1,037.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HRI. Weiss Ratings upgraded shares of Herc from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Herc from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Wells Fargo & Company raised 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. Citigroup lifted their price target on Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, BNP Paribas Exane started coverage on Herc in a research note on Monday, June 29th. They issued a “neutral” rating and a $160.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $173.43.

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.