First Trust Advisors LP Has $87.76 Million Holdings in Herc Holdings Inc. $HRI

First Trust Advisors LP increased its position in Herc Holdings Inc. (NYSE:HRI) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 752,255 shares of the transportation company’s stock after acquiring an additional 84,586 shares during the quarter. First Trust Advisors LP’s holdings in Herc were worth $87,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC boosted its holdings in Herc by 20.3% during the third quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 74 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Herc by 53.1% in the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after purchasing an additional 86 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Herc by 0.4% in the third quarter. Salem Investment Counselors Inc. now owns 21,721 shares of the transportation company’s stock worth $2,534,000 after purchasing an additional 95 shares during the period. Cornerstone Investment Partners LLC lifted its position in shares of Herc by 2.3% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 4,310 shares of the transportation company’s stock worth $503,000 after purchasing an additional 97 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Herc by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,051 shares of the transportation company’s stock valued at $270,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HRI shares. Wells Fargo & Company raised their target price on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Barclays upped their price target on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. KeyCorp lowered their price objective on shares of Herc from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Robert W. Baird dropped their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Finally, Citigroup cut their target price on shares of Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.43.

Herc Trading Up 1.0%

Shares of HRI opened at $121.37 on Tuesday. The stock’s 50-day moving average price is $155.87 and its 200 day moving average price is $141.85. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -674.25, a P/E/G ratio of 16.20 and a beta of 1.73. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $188.35.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, February 17th. The transportation company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Herc had a return on equity of 13.21% and a net margin of 0.02%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the company earned $3.58 EPS. The company’s quarterly revenue was up 27.1% on a year-over-year basis. As a group, research analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, February 18th. Herc’s dividend payout ratio (DPR) is -1,555.56%.

Herc Company Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.