Capital Research Global Investors Has $28.72 Million Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Capital Research Global Investors increased its holdings in Herc Holdings Inc. (NYSE:HRI) by 185.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,649 shares of the transportation company’s stock after purchasing an additional 110,922 shares during the period. Capital Research Global Investors owned approximately 0.60% of Herc worth $28,720,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Theleme Partners LLP raised its position in Herc by 26.2% in the fourth quarter. Theleme Partners LLP now owns 817,891 shares of the transportation company’s stock worth $121,776,000 after purchasing an additional 169,886 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Herc during the fourth quarter worth approximately $914,000. Wells Fargo & Company MN increased its holdings in shares of Herc by 20.1% during the fourth quarter. Wells Fargo & Company MN now owns 84,185 shares of the transportation company’s stock worth $12,534,000 after buying an additional 14,069 shares in the last quarter. John G Ullman & Associates Inc. increased its holdings in shares of Herc by 16.3% during the fourth quarter. John G Ullman & Associates Inc. now owns 34,871 shares of the transportation company’s stock worth $5,192,000 after buying an additional 4,900 shares in the last quarter. Finally, Electron Capital Partners LLC increased its holdings in shares of Herc by 3.5% during the fourth quarter. Electron Capital Partners LLC now owns 605,387 shares of the transportation company’s stock worth $90,136,000 after buying an additional 20,358 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

HRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Herc in a report on Friday, June 7th. They set a “neutral” rating and a $155.00 price objective for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 price objective on shares of Herc in a report on Tuesday, July 23rd. StockNews.com cut shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, The Goldman Sachs Group increased their price target on shares of Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $159.50.

Insider Buying and Selling at Herc

In other Herc news, CEO Lawrence Harris Silber sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $158.81, for a total value of $3,176,200.00. Following the transaction, the chief executive officer now directly owns 213,382 shares of the company’s stock, valued at $33,887,195.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Christian J. Cunningham sold 6,607 shares of Herc stock in a transaction on Friday, May 10th. The shares were sold at an average price of $155.37, for a total transaction of $1,026,529.59. Following the transaction, the senior vice president now directly owns 60,029 shares of the company’s stock, valued at $9,326,705.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lawrence Harris Silber sold 20,000 shares of Herc stock in a transaction on Monday, May 13th. The stock was sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the transaction, the chief executive officer now directly owns 213,382 shares in the company, valued at $33,887,195.42. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Herc Price Performance

HRI opened at $154.24 on Friday. Herc Holdings Inc. has a one year low of $100.17 and a one year high of $171.00. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.23 and a quick ratio of 1.51. The company’s 50 day simple moving average is $138.56 and its 200-day simple moving average is $148.77. The stock has a market capitalization of $4.38 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.94 and a beta of 2.08.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.665 dividend. The ex-dividend date was Thursday, May 30th. This represents a $2.66 dividend on an annualized basis and a yield of 1.72%. Herc’s payout ratio is presently 21.97%.

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.