Herc Holdings Inc. (NYSE:HRI) Announces $0.70 Quarterly Dividend

Herc Holdings Inc. (NYSE:HRI) declared a quarterly dividend on Wednesday, February 4th. Investors of record on Wednesday, February 18th will be paid a dividend of 0.70 per share by the transportation company on Wednesday, March 4th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, February 18th.

Herc has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Herc to earn $15.12 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 18.5%.

Herc Trading Up 9.7%

NYSE HRI traded up $14.88 on Wednesday, hitting $168.91. The company’s stock had a trading volume of 815,069 shares, compared to its average volume of 502,673. Herc has a 52-week low of $96.18 and a 52-week high of $211.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 4.28. The company’s 50-day simple moving average is $153.03 and its 200 day simple moving average is $136.91. The firm has a market cap of $5.62 billion, a P/E ratio of -67.03, a PEG ratio of 1.39 and a beta of 1.77.

Hedge Funds Weigh In On Herc

Large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position in shares of Herc by 53.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Herc in the third quarter worth $31,000. Advisory Services Network LLC purchased a new stake in shares of Herc in the third quarter worth $35,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Herc in the second quarter worth $36,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Herc during the third quarter valued at $40,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.