Pictet Asset Management Holding SA Grows Holdings in Herc Holdings Inc. $HRI

Pictet Asset Management Holding SA lifted its stake in Herc Holdings Inc. (NYSE:HRI) by 1,777.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 87,116 shares of the transportation company’s stock after purchasing an additional 82,475 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Herc were worth $8,672,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HRI. Norges Bank acquired a new stake in Herc in the 4th quarter valued at approximately $287,269,000. Northwestern Mutual Wealth Management Co. lifted its stake in Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock worth $198,108,000 after purchasing an additional 1,333,602 shares in the last quarter. Freestone Grove Partners LP lifted its stake in Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after purchasing an additional 498,511 shares in the last quarter. Invesco Ltd. boosted its position in shares of Herc by 11.2% during the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after buying an additional 413,719 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Herc by 305.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 425,582 shares of the transportation company’s stock worth $63,148,000 after buying an additional 320,649 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Stock Performance

Shares of HRI stock opened at $134.72 on Friday. The firm has a 50 day moving average of $138.12 and a two-hundred day moving average of $137.93. The stock has a market capitalization of $4.50 billion, a PE ratio of -498.97, a P/E/G ratio of 24.43 and a beta of 1.88. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc Holdings Inc. has a 52 week low of $88.45 and a 52 week high of $188.35.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.42. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, research analysts predict that Herc Holdings Inc. will post 5.31 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 2.1%. Herc’s dividend payout ratio is -1,037.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. KeyCorp decreased their target price on Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. BNP Paribas Exane began coverage on Herc in a report on Monday. They set a “neutral” rating and a $160.00 target price for the company. 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 report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Herc from $165.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.86.

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.