Asset Management One Co. Ltd. Cuts Position in Herc Holdings Inc. (HRI)
Asset Management One Co. Ltd. decreased its position in shares of Herc Holdings Inc. (NYSE:HRI) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,089 shares of the transportation company’s stock after selling 1,353 shares during the period. Asset Management One Co. Ltd. owned approximately 0.09% of Herc Holdings worth $1,172,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HRI. Victory Capital Management Inc. bought a new position in Herc Holdings during the first quarter worth $18,278,000. Pier Capital LLC bought a new position in Herc Holdings during the first quarter worth $5,775,000. KBC Group NV increased its position in Herc Holdings by 20.4% in the first quarter. KBC Group NV now owns 50,670 shares of the transportation company’s stock worth $2,477,000 after buying an additional 8,590 shares in the last quarter. Private Advisor Group LLC increased its position in Herc Holdings by 45.5% in the first quarter. Private Advisor Group LLC now owns 7,676 shares of the transportation company’s stock worth $355,000 after buying an additional 2,400 shares in the last quarter. Finally, Hosking Partners LLP increased its position in Herc Holdings by 10.2% in the first quarter. Hosking Partners LLP now owns 17,656 shares of the transportation company’s stock worth $863,000 after buying an additional 1,632 shares in the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.
Herc Holdings Inc. (NYSE:HRI) opened at 37.37 on Friday. The company’s market capitalization is $1.06 billion. Herc Holdings Inc. has a 12-month low of $28.66 and a 12-month high of $52.96. The company has a 50-day moving average of $39.97 and a 200 day moving average of $44.25.
Herc Holdings (NYSE:HRI) last announced its earnings results on Tuesday, May 9th. The transportation company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.78. The business had revenue of $389.40 million for the quarter, compared to the consensus estimate of $366.74 million. Herc Holdings had a negative net margin of 3.69% and a negative return on equity of 7.69%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Herc Holdings Inc. will post ($0.62) earnings per share for the current fiscal year.
A number of research firms have recently weighed in on HRI. ValuEngine raised shares of Herc Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Sidoti downgraded shares of Herc Holdings from a “buy” rating to a “neutral” rating in a research report on Thursday, May 18th. Zacks Investment Research downgraded shares of Herc Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 16th. Jefferies Group LLC reissued a “hold” rating and set a $44.00 target price on shares of Herc Holdings in a research report on Thursday, April 13th. Finally, KeyCorp raised shares of Herc Holdings from a “sector weight” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $48.83.
In other Herc Holdings news, COO James Bruce Dressel bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $35.61 per share, for a total transaction of $178,050.00. Following the completion of the transaction, the chief operating officer now owns 38,902 shares of the company’s stock, valued at approximately $1,385,300.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.12% of the company’s stock.
About Herc Holdings
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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