Herc Holdings Inc. $HRI Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its position in Herc Holdings Inc. (NYSE:HRI) by 88.1% in the first quarter, Holdings Channel reports. The fund owned 105,074 shares of the transportation company’s stock after buying an additional 49,210 shares during the period. Jennison Associates LLC’s holdings in Herc were worth $10,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings 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 valued at $25,000 after purchasing an additional 130 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Herc during the third quarter worth $35,000. Smartleaf Asset Management LLC grew its stake in shares of Herc by 50.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after purchasing an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Herc in the third quarter valued at $40,000. Finally, Covestor Ltd increased its holdings in Herc by 78.1% in the fourth quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock valued at $53,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Performance

Shares of HRI stock opened at $148.39 on Wednesday. The stock’s 50-day moving average is $141.63 and its two-hundred day moving average is $137.01. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -549.59, a PEG ratio of 26.75 and a beta of 1.88.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.42. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 EPS. Analysts predict that Herc Holdings Inc. will post 5.3 earnings per share for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.70 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 1.9%. Herc’s payout ratio is currently -1,037.04%.

Analyst Upgrades and Downgrades

HRI has been the subject of a number of recent analyst reports. Weiss Ratings raised Herc from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. BNP Paribas Exane assumed coverage on Herc in a report on Monday, June 29th. They issued a “neutral” rating and a $160.00 price objective on the stock. Wells Fargo & Company boosted their target price on Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Citigroup upped their price target on Herc from $155.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Herc from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Herc presently has a consensus rating of “Hold” and a consensus price target of $173.43.

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.