CM Management LLC Buys New Shares in Herc Holdings Inc. $HRI

CM Management LLC bought a new position in shares of Herc Holdings Inc. (NYSE:HRI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,500 shares of the transportation company’s stock, valued at approximately $875,000.

A number of other large investors have also bought and sold shares of the stock. Invesco Ltd. boosted its position in shares of Herc by 24.2% during the 2nd quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after purchasing an additional 723,239 shares in the last quarter. Norges Bank bought a new stake in Herc in the 2nd quarter valued at about $242,697,000. American Century Companies Inc. increased its position in Herc by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock valued at $151,889,000 after buying an additional 97,235 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Herc by 2.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,113,836 shares of the transportation company’s stock worth $146,681,000 after buying an additional 25,634 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Herc by 34.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 943,722 shares of the transportation company’s stock worth $110,095,000 after acquiring an additional 243,320 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HRI shares. Wells Fargo & Company raised their price objective on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Barclays increased their target price on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Citigroup reduced their price objective on shares of Herc from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.29.

Herc Stock Down 8.7%

HRI stock opened at $120.30 on Friday. The firm has a market capitalization of $4.01 billion, a PE ratio of -668.33, a P/E/G ratio of 16.20 and a beta of 1.73. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $188.35. The stock’s 50 day moving average is $156.54 and its 200-day moving average is $141.70.

Herc (NYSE:HRI) last announced its quarterly earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.20. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.Herc’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.58 earnings per share. Sell-side analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.3%. Herc’s dividend payout ratio is currently -1,555.56%.

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.