Readystate Asset Management LP Trims Stock Position in Herc Holdings Inc. $HRI

Readystate Asset Management LP lessened its holdings in Herc Holdings Inc. (NYSE:HRI) by 36.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,318 shares of the transportation company’s stock after selling 15,755 shares during the period. Readystate Asset Management LP owned about 0.08% of Herc worth $3,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in shares of Herc by 342.1% during the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Herc in the 3rd quarter worth $35,000. Smartleaf Asset Management LLC increased its stake in shares of Herc by 50.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after purchasing an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Herc in the 3rd quarter worth $40,000. Finally, Covestor Ltd raised its holdings in Herc by 78.1% in the 4th quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock worth $53,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HRI. Citigroup lifted their target price on Herc from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings raised Herc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. BNP Paribas Exane increased their target price on shares of Herc from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company lifted their price target on shares of Herc from $176.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Herc Stock Performance

Shares of NYSE:HRI opened at $141.01 on Monday. Herc Holdings Inc. has a 52 week low of $88.45 and a 52 week high of $188.35. The stock has a market capitalization of $4.71 billion, a P/E ratio of 95.93, a PEG ratio of 19.57 and a beta of 1.86. The firm has a fifty day simple moving average of $153.56 and a two-hundred day simple moving average of $135.97. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, July 28th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.67. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Herc had a net margin of 1.01% and a return on equity of 10.33%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. On average, analysts expect that Herc Holdings Inc. will post 6.93 earnings per share for the current fiscal year.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.0%. Herc’s dividend payout ratio is 190.48%.

About Herc

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.