Herc Holdings Inc. $HRI Stake Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 215.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,389 shares of the transportation company’s stock after purchasing an additional 4,361 shares during the period. State of Alaska Department of Revenue’s holdings in Herc were worth $796,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HRI. State of Wyoming increased its stake in shares of Herc by 21.0% in the 1st quarter. State of Wyoming now owns 616 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 107 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Herc during the 2nd quarter worth $68,000. NewEdge Advisors LLC lifted its position in shares of Herc by 61.4% during the 1st quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock worth $69,000 after buying an additional 264 shares during the last quarter. Nykredit A S bought a new stake in shares of Herc during the 2nd quarter worth $133,000. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of Herc during the 1st quarter worth $223,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on HRI. Wells Fargo & Company decreased their target price on Herc from $218.00 to $176.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Weiss Ratings raised shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Zacks Research raised shares of Herc from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. KeyCorp raised their price target on shares of Herc from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Citigroup decreased their price target on shares of Herc from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.86.

Herc Stock Up 1.5%

Shares of HRI opened at $133.73 on Friday. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.10 and a current ratio of 1.10. Herc Holdings Inc. has a 52 week low of $88.45 and a 52 week high of $188.35. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.21 and a beta of 2.04. The stock has a fifty day moving average of $140.63 and a 200-day moving average of $139.23.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $1.87 EPS. Herc’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Herc Holdings Inc. will post 7.30 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, September 2nd. Herc’s dividend payout ratio (DPR) is presently 190.48%.

About Herc

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power generation and climate-control equipment, pumps, and general tools.