Fisher Asset Management LLC Grows Stock Position in Herc Holdings Inc. $HRI

Fisher Asset Management LLC grew its position in shares of Herc Holdings Inc. (NYSE:HRI) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 588,396 shares of the transportation company’s stock after buying an additional 3,549 shares during the period. Fisher Asset Management LLC’s holdings in Herc were worth $68,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HRI. Harbor Capital Advisors Inc. grew its holdings in Herc by 53.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Herc in the 3rd quarter worth $31,000. AlphaQuest LLC boosted its position in Herc by 158.2% in the 2nd quarter. AlphaQuest LLC now owns 364 shares of the transportation company’s stock valued at $48,000 after buying an additional 223 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Herc by 114.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company’s stock valued at $77,000 after buying an additional 312 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Herc during the third quarter valued at about $86,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Stock Performance

HRI stock opened at $140.92 on Tuesday. The stock’s 50 day simple moving average is $158.49 and its 200 day simple moving average is $141.60. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $188.35. The firm has a market cap of $4.70 billion, a P/E ratio of -782.87, a P/E/G ratio of 18.85 and a beta of 1.73. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 4.17.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. Herc had a net margin of 0.02% and a return on equity of 13.21%. The firm’s revenue was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.58 earnings per share. As a group, equities research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Herc’s dividend payout ratio is currently -1,555.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wells Fargo & Company lifted their price objective on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Citigroup cut their target price on Herc from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Finally, Robert W. Baird dropped their price target on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.29.

Herc Company 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.