9,231 Herc Holdings Inc. $HRI Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in Herc Holdings Inc. (NYSE:HRI) by 43.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,258 shares of the transportation company’s stock after selling 9,231 shares during the period. Sterling Capital Management LLC’s holdings in Herc were worth $1,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Wyoming grew its holdings in Herc by 21.0% during the 1st quarter. State of Wyoming now owns 616 shares of the transportation company’s stock worth $61,000 after acquiring an additional 107 shares during the period. HighTower Advisors LLC raised its position in shares of Herc by 4.1% during the 2nd quarter. HighTower Advisors LLC now owns 3,386 shares of the transportation company’s stock valued at $485,000 after acquiring an additional 134 shares during the last quarter. Blue Zone Wealth Advisors LLC lifted its stake in shares of Herc by 0.3% in the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 41,732 shares of the transportation company’s stock valued at $5,208,000 after purchasing an additional 142 shares during the period. Swiss National Bank lifted its stake in shares of Herc by 0.3% in the 1st quarter. Swiss National Bank now owns 62,557 shares of the transportation company’s stock valued at $6,228,000 after purchasing an additional 200 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Herc by 61.4% in the 1st quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 264 shares during the period. 93.11% of the stock is owned by institutional investors.

Herc Stock Performance

HRI stock opened at $127.58 on Tuesday. Herc Holdings Inc. has a 1-year low of $88.45 and a 1-year high of $188.35. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22. The firm has a market cap of $4.27 billion, a PE ratio of 86.79 and a beta of 2.04. The business’s 50-day moving average price is $140.38 and its two-hundred day moving average price is $139.59.

Herc (NYSE:HRI) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $1.87 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts forecast that Herc Holdings Inc. will post 7.30 earnings per share for the current year.

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, September 2nd. Herc’s dividend payout ratio is presently 190.48%.

Wall Street Analyst Weigh In

HRI has been the topic of several recent research reports. Zacks Research upgraded Herc from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. JPMorgan Chase & Co. upgraded Herc from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $165.00 to $175.00 in a report on Thursday, September 10th. BNP Paribas Exane increased their target price on Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Wells Fargo & Company cut their target price on Herc from $218.00 to $176.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Finally, Citigroup reduced their target price on Herc from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Herc has an average rating of “Moderate Buy” and a consensus target price of $174.86.

Herc Company Profile

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power generation and climate-control equipment, pumps, and general tools.