Allspring Global Investments Holdings LLC Has $9.16 Million Holdings in Herc Holdings Inc. $HRI

Allspring Global Investments Holdings LLC lessened its holdings in Herc Holdings Inc. (NYSE:HRI) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,409 shares of the transportation company’s stock after selling 5,442 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.29% of Herc worth $9,159,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HRI. Hantz Financial Services Inc. lifted its holdings in Herc by 342.1% in the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock valued at $25,000 after buying an additional 130 shares during the period. Advisory Services Network LLC acquired a new stake in Herc during the 3rd quarter worth $35,000. Smartleaf Asset Management LLC raised its position in shares of Herc by 50.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 111 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Herc during the 3rd quarter valued at $40,000. Finally, Covestor Ltd lifted its stake in shares of Herc by 78.1% in the 4th quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HRI shares. Wells Fargo & Company lifted their price objective on Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings raised Herc from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. BNP Paribas Exane began coverage on Herc in a report on Monday, June 29th. They set a “neutral” rating and a $160.00 target price on the stock. Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Citigroup increased their price target on shares of Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $173.43.

Herc Stock Performance

Shares of HRI opened at $150.89 on Thursday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46. Herc Holdings Inc. has a twelve month low of $88.45 and a twelve month high of $188.35. The firm’s 50 day moving average price is $141.91 and its two-hundred day moving average price is $137.03. The firm has a market cap of $5.04 billion, a P/E ratio of -558.87, a PEG ratio of 26.86 and a beta of 1.88.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.42. The company had revenue of $1.14 billion during 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%. The firm’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, analysts forecast that Herc Holdings Inc. will post 5.3 EPS for the current fiscal year.

Herc Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Herc’s dividend payout ratio is currently -1,037.04%.

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.