Cannon Global Investment Management LLC Makes New Investment in Herc Holdings Inc. (NYSE:HRI)

Cannon Global Investment Management LLC purchased a new stake in Herc Holdings Inc. (NYSE:HRI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,500 shares of the transportation company’s stock, valued at approximately $333,000. Herc makes up 1.5% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in Herc in the 1st quarter valued at $31,000. EverSource Wealth Advisors LLC grew its position in Herc by 650.0% during the first quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after buying an additional 208 shares in the last quarter. CWM LLC increased its stake in Herc by 45.3% in the 4th quarter. CWM LLC now owns 359 shares of the transportation company’s stock worth $53,000 after acquiring an additional 112 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Herc in the 1st quarter valued at about $227,000. Finally, Qsemble Capital Management LP bought a new stake in shares of Herc during the 1st quarter valued at about $242,000. 93.11% of the stock is currently owned by institutional investors.

Insider Transactions at Herc

In other news, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.71, for a total value of $1,467,100.00. Following the completion of the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Tamir Peres sold 5,821 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total value of $925,713.63. Following the transaction, the senior vice president now owns 35,415 shares in the company, valued at $5,632,047.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares in the company, valued at $5,609,016.72. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Herc Trading Down 0.0 %

NYSE:HRI traded down $0.02 during trading hours on Wednesday, reaching $137.95. The company’s stock had a trading volume of 41,432 shares, compared to its average volume of 225,883. The firm has a 50-day simple moving average of $139.19 and a 200-day simple moving average of $147.41. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.23 and a current ratio of 1.23. Herc Holdings Inc. has a 1 year low of $100.17 and a 1 year high of $171.00. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.89 and a beta of 2.08.

Herc (NYSE:HRI) last released its earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a net margin of 10.00% and a return on equity of 26.99%. The company had revenue of $848.00 million during the quarter, compared to the consensus estimate of $813.05 million. Research analysts expect that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, August 22nd. Herc’s payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HRI shares. StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 price objective on shares of Herc in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Herc in a research report on Friday, June 7th. They set a “neutral” rating and a $155.00 price target on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $159.50.

Herc Profile

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.