Summit Global Investments Buys 2,500 Shares of Herc Holdings Inc. (NYSE:HRI)

Summit Global Investments raised its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 35.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,501 shares of the transportation company’s stock after purchasing an additional 2,500 shares during the period. Summit Global Investments’ holdings in Herc were worth $1,415,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Herc by 213.3% in the 4th quarter. Signaturefd LLC now owns 235 shares of the transportation company’s stock worth $35,000 after buying an additional 160 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Herc by 576.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 311 shares of the transportation company’s stock worth $46,000 after buying an additional 265 shares during the last quarter. CWM LLC grew its position in shares of Herc by 45.3% in the 4th quarter. CWM LLC now owns 359 shares of the transportation company’s stock worth $53,000 after buying an additional 112 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Herc in the 4th quarter worth approximately $108,000. Finally, Legato Capital Management LLC purchased a new stake in Herc during the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Activity at Herc

In related news, SVP Tamir Peres sold 3,545 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $159.10, for a total value of $564,009.50. Following the completion of the transaction, the senior vice president now directly owns 41,236 shares in the company, valued at approximately $6,560,647.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Herc news, COO Aaron Birnbaum sold 5,844 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $152.33, for a total transaction of $890,216.52. Following the completion of the transaction, the chief operating officer now directly owns 48,232 shares in the company, valued at $7,347,180.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tamir Peres sold 3,545 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $159.10, for a total transaction of $564,009.50. Following the transaction, the senior vice president now owns 41,236 shares of the company’s stock, valued at $6,560,647.60. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on HRI shares. The Goldman Sachs Group boosted their target price on shares of Herc from $155.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Robert W. Baird boosted their target price on shares of Herc from $117.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Herc presently has a consensus rating of “Hold” and a consensus target price of $152.50.

Herc Stock Performance

NYSE HRI traded down $1.66 on Friday, hitting $146.90. 209,430 shares of the company’s stock traded hands, compared to its average volume of 244,438. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.95. Herc Holdings Inc. has a 1-year low of $93.97 and a 1-year high of $171.00. The firm’s 50-day moving average price is $158.91 and its two-hundred day moving average price is $142.85. The firm has a market capitalization of $4.17 billion, a PE ratio of 12.13, a P/E/G ratio of 0.73 and a beta of 2.27.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.05). Herc had a net margin of 10.31% and a return on equity of 28.68%. The firm had revenue of $831.00 million during the quarter, compared to analyst estimates of $858.06 million. During the same quarter in the prior year, the firm earned $3.44 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts expect that Herc Holdings Inc. will post 14.59 EPS for the current year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Wednesday, February 21st were paid a $0.665 dividend. This is a boost from Herc’s previous quarterly dividend of $0.63. This represents a $2.66 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, February 20th. Herc’s payout ratio is currently 21.97%.

Herc Profile

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.