1,936,036 Shares in Herc Holdings Inc. $HRI Acquired by Norges Bank

Norges Bank bought a new position in Herc Holdings Inc. (NYSE:HRI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,936,036 shares of the transportation company’s stock, valued at approximately $287,269,000. Norges Bank owned about 0.06% of Herc as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HRI. Northwestern Mutual Wealth Management Co. boosted its position in shares of Herc by 86,823.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock worth $198,108,000 after acquiring an additional 1,333,602 shares during the last quarter. Invesco Ltd. boosted its position in shares of Herc by 11.2% in the third quarter. Invesco Ltd. now owns 4,123,437 shares of the transportation company’s stock worth $481,040,000 after acquiring an additional 413,719 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Herc by 233.1% in the third quarter. Marshall Wace LLP now owns 420,512 shares of the transportation company’s stock worth $49,057,000 after acquiring an additional 294,265 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Herc by 3,306.3% in the third quarter. Ameriprise Financial Inc. now owns 292,328 shares of the transportation company’s stock worth $34,106,000 after acquiring an additional 283,746 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Herc by 40.0% in the second quarter. Alliancebernstein L.P. now owns 825,511 shares of the transportation company’s stock worth $108,712,000 after acquiring an additional 235,694 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HRI shares. Wells Fargo & Company raised their target price on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. KeyCorp reduced their price target on shares of Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Zacks Research cut shares of Herc from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Citigroup lifted their price target on shares of Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Robert W. Baird reduced their price target 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. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.67.

Herc Trading Down 1.2%

Shares of HRI stock opened at $128.13 on Wednesday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -474.56, a price-to-earnings-growth ratio of 23.50 and a beta of 1.89. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The firm’s 50 day moving average price is $117.55 and its two-hundred day moving average price is $136.59.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. On average, analysts anticipate that Herc Holdings Inc. will post 5.31 EPS for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. Herc’s dividend payout ratio (DPR) is currently -1,037.04%.

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.