Herc Holdings Inc. $HRI Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its position in shares of Herc Holdings Inc. (NYSE:HRI) by 71.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,213 shares of the transportation company’s stock after selling 81,162 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Herc worth $3,875,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. grew its stake in shares of 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. University of Texas Texas AM Investment Management Co. bought a new position in shares of Herc in the second quarter valued at approximately $36,000. FNY Investment Advisers LLC acquired a new position in shares of Herc during the second quarter valued at approximately $47,000. AlphaQuest LLC increased its stake in shares of Herc by 158.2% during the second quarter. AlphaQuest LLC now owns 364 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 223 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Herc by 114.7% during the second quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company’s stock worth $77,000 after purchasing an additional 312 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on Herc from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. KeyCorp set a $200.00 price objective on shares of Herc and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. Barclays increased their target price on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.43.

Herc Trading Up 1.6%

NYSE HRI opened at $181.44 on Wednesday. The firm’s 50 day moving average price is $157.21 and its two-hundred day moving average price is $138.20. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.22 and a current ratio of 1.22. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $211.80. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -72.00, a PEG ratio of 1.66 and a beta of 1.77.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.5%. Herc’s dividend payout ratio (DPR) is presently -111.11%.

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.