Herc Holdings Inc. (NYSE:HRI) Sees Large Decline in Short Interest

Herc Holdings Inc. (NYSE:HRI) was the recipient of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 954,400 shares, a decline of 11.6% from the January 31st total of 1,080,000 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 384,600 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on shares of Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Herc has an average rating of “Hold” and a consensus price target of $219.75.

Herc Stock Performance

HRI stock traded down $3.83 during mid-day trading on Thursday, reaching $129.67. The company had a trading volume of 369,764 shares, compared to its average volume of 298,350. Herc has a one year low of $124.70 and a one year high of $246.88. The stock has a market capitalization of $3.69 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.61 and a beta of 2.04. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock’s 50-day simple moving average is $187.35 and its two-hundred day simple moving average is $184.80.

Herc (NYSE:HRI) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a net margin of 5.91% and a return on equity of 26.48%. The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $919.84 million. Research analysts anticipate that Herc will post 12.84 EPS for the current year.

Herc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Herc’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. Herc’s payout ratio is currently 37.79%.

Institutional Trading of Herc

Several large investors have recently added to or reduced their stakes in HRI. Mackenzie Financial Corp grew its stake in shares of Herc by 693.3% in the fourth quarter. Mackenzie Financial Corp now owns 14,001 shares of the transportation company’s stock worth $2,651,000 after purchasing an additional 12,236 shares in the last quarter. Castleark Management LLC bought a new position in Herc in the 4th quarter valued at about $6,049,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Herc by 55.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,571 shares of the transportation company’s stock valued at $19,988,000 after buying an additional 37,805 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of Herc by 178.7% in the 4th quarter. Voloridge Investment Management LLC now owns 120,936 shares of the transportation company’s stock worth $22,897,000 after acquiring an additional 77,548 shares during the period. Finally, Twinbeech Capital LP bought a new position in shares of Herc in the fourth quarter valued at approximately $1,987,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Company 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.