Bank of New York Mellon Corp Has $51.22 Million Holdings in Herc Holdings Inc. $HRI

Bank of New York Mellon Corp boosted its holdings in Herc Holdings Inc. (NYSE:HRI) by 25.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 514,471 shares of the transportation company’s stock after acquiring an additional 105,067 shares during the quarter. Bank of New York Mellon Corp owned 1.54% of Herc worth $51,216,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG increased its position in shares of Herc by 83.2% during 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 during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Herc in the fourth quarter valued at $2,098,000. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $15,669,000 after buying an additional 22,367 shares during the period. Pier Capital LLC grew its holdings in Herc by 21.2% during the 4th quarter. Pier Capital LLC now owns 69,196 shares of the transportation company’s stock worth $10,267,000 after acquiring an additional 12,114 shares in the last quarter. Finally, Norges Bank purchased a new position in Herc in the fourth quarter valued at $287,269,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Up 7.8%

Shares of NYSE:HRI opened at $162.76 on Friday. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35. The stock has a 50-day simple moving average of $142.36 and a 200-day simple moving average of $137.10. The stock has a market capitalization of $5.43 billion, a P/E ratio of -602.80, a PEG ratio of 27.42 and a beta of 1.88. 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 (NYSE:HRI) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company’s revenue was up 32.3% compared to the same quarter last year. 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 declared 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 1.7%. The ex-dividend date was Friday, May 29th. Herc’s dividend payout ratio is presently -1,037.04%.

Analyst Upgrades and Downgrades

HRI has been the topic of a number of research analyst reports. BNP Paribas Exane began coverage on shares of Herc in a report on Monday, June 29th. They set a “neutral” rating and a $160.00 price objective on the stock. Wells Fargo & Company lifted their target price on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Citigroup increased their price target on shares of Herc from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Herc from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 10th. Finally, Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Five investment 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 MarketBeat.com, Herc has an average rating of “Hold” and a consensus target price of $173.43.

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.