First Eagle Investment Management LLC Sells 9,750 Shares of Herc Holdings Inc. (NYSE:HRI)

First Eagle Investment Management LLC reduced its position in shares of Herc Holdings Inc. (NYSE:HRI) by 31.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,059 shares of the transportation company’s stock after selling 9,750 shares during the quarter. First Eagle Investment Management LLC owned 0.07% of Herc worth $3,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HRI. Jones Financial Companies Lllp grew its stake in shares of Herc by 878.9% in the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock worth $35,000 after acquiring an additional 167 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Herc by 54.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock worth $70,000 after acquiring an additional 130 shares during the period. Truvestments Capital LLC bought a new stake in shares of Herc in the third quarter worth approximately $80,000. Farther Finance Advisors LLC grew its stake in shares of Herc by 34.1% in the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company’s stock worth $87,000 after acquiring an additional 117 shares during the period. Finally, KBC Group NV grew its stake in shares of Herc by 20.1% in the third quarter. KBC Group NV now owns 854 shares of the transportation company’s stock worth $136,000 after acquiring an additional 143 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Herc Stock Performance

HRI opened at $129.46 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.61 and a beta of 2.14. The company’s 50 day moving average is $178.66 and its 200 day moving average is $184.11. Herc Holdings Inc. has a 12-month low of $119.60 and a 12-month high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. On average, equities research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their price target on shares of Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Three research 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 currently has an average rating of “Hold” and an average price target of $219.75.

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.