CIBC Private Wealth Group LLC Decreases Holdings in Herc Holdings Inc. (NYSE:HRI)

CIBC Private Wealth Group LLC reduced its position in Herc Holdings Inc. (NYSE:HRI) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,854 shares of the transportation company’s stock after selling 350 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Herc were worth $519,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Herc by 878.9% during the 4th quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock valued at $35,000 after buying an additional 167 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 80 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Herc by 54.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock worth $70,000 after purchasing an additional 130 shares in the last quarter. Farther Finance Advisors LLC grew its position in Herc by 34.1% during the 4th quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company’s stock worth $87,000 after purchasing an additional 117 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Herc by 564.0% during the 4th quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 626 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HRI. The Goldman Sachs Group dropped their price objective on shares of Herc from $234.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Citigroup assumed coverage on Herc in a research note on Monday, March 24th. They set a “buy” rating and a $165.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.20.

Herc Trading Down 5.7 %

Shares of Herc stock opened at $122.47 on Friday. Herc Holdings Inc. has a 1 year low of $114.74 and a 1 year high of $246.88. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $3.49 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. The firm has a fifty day moving average price of $160.31 and a 200 day moving average price of $183.49.

Herc (NYSE:HRI) last issued its earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). The company 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%. Equities research analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.70 per share. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.29%. Herc’s dividend payout ratio (DPR) is presently 37.79%.

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.