Herc Holdings Inc. (HRI) To Go Ex-Dividend on May 29th

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Friday, May 15th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.70 per share by the transportation company on Friday, June 12th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, May 29th.

Herc has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Herc to earn $8.12 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 34.5%.

Herc Trading Up 5.4%

Shares of NYSE HRI opened at $135.97 on Wednesday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50 day moving average price is $115.34 and its 200-day moving average price is $136.71. Herc has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -503.59, a PEG ratio of 23.36 and a beta of 1.90.

Herc (NYSE:HRI) last issued its quarterly 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, sell-side analysts expect that Herc will post 5.31 earnings per share for the current year.

Institutional Investors Weigh In On Herc

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its position in shares of Herc by 342.1% in the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Herc during the 3rd quarter worth $31,000. Advisory Services Network LLC purchased a new position in Herc during the 3rd quarter worth $35,000. Smartleaf Asset Management LLC grew its stake in Herc by 50.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after buying an additional 111 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Herc during the 3rd quarter worth $40,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.