First Mercantile Trust Co. Buys Shares of 1,540 Herc Holdings Inc. (NYSE:HRI)

First Mercantile Trust Co. purchased a new stake in shares of Herc Holdings Inc. (NYSE:HRI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,540 shares of the transportation company’s stock, valued at approximately $173,000.

Several other institutional investors have also added to or reduced their stakes in the company. Level Four Financial LLC bought a new position in Herc in the 2nd quarter worth $217,000. Parallel Advisors LLC bought a new position in shares of Herc during the 2nd quarter worth about $141,000. Nisa Investment Advisors LLC increased its holdings in shares of Herc by 22.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,290 shares of the transportation company’s stock worth $145,000 after purchasing an additional 240 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Herc by 26.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,700 shares of the transportation company’s stock worth $2,656,000 after purchasing an additional 4,900 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Herc by 73.3% during the 2nd quarter. Sei Investments Co. now owns 50,354 shares of the transportation company’s stock worth $5,646,000 after purchasing an additional 21,290 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Several brokerages have recently weighed in on HRI. Zacks Investment Research upgraded shares of Herc from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research report on Thursday, July 8th. KeyCorp lifted their target price on shares of Herc from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. TheStreet upgraded shares of Herc from a “c+” rating to a “b-” rating in a research report on Thursday, July 22nd. Barclays lifted their target price on shares of Herc from $128.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of Herc from $125.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, July 23rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $124.00.

NYSE:HRI opened at $123.39 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 0.38 and a beta of 3.09. Herc Holdings Inc. has a 12 month low of $34.95 and a 12 month high of $135.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.98. The company’s 50-day moving average price is $122.87 and its two-hundred day moving average price is $110.39.

Herc (NYSE:HRI) last released its quarterly earnings results on Thursday, July 22nd. The transportation company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.33. The firm had revenue of $490.90 million for the quarter, compared to analyst estimates of $456.93 million. Herc had a net margin of 8.09% and a return on equity of 21.16%. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, research analysts expect that Herc Holdings Inc. will post 6.9 EPS for the current fiscal year.

About Herc

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.

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Institutional Ownership by Quarter for Herc (NYSE:HRI)

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