UBS Asset Management Americas Inc. lowered its stake in Herc Holdings Inc. (NYSE:HRI) by 50.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,174 shares of the transportation company’s stock after selling 14,216 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.05% of Herc Holdings worth $693,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank raised its stake in shares of Herc Holdings by 4.2% in the first quarter. Swiss National Bank now owns 39,546 shares of the transportation company’s stock worth $1,933,000 after buying an additional 1,600 shares during the period. Bank of New York Mellon Corp increased its position in Herc Holdings by 81.3% in the first quarter. Bank of New York Mellon Corp now owns 158,933 shares of the transportation company’s stock worth $7,770,000 after buying an additional 71,265 shares in the last quarter. Princeton Alpha Management LP bought a new position in Herc Holdings during the first quarter worth $226,000. Daiwa Securities Group Inc. bought a new position in Herc Holdings during the first quarter worth $4,899,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Herc Holdings during the first quarter worth approximately $247,000. Institutional investors and hedge funds own 99.74% of the company’s stock.
Herc Holdings Inc. (NYSE:HRI) traded down 4.09% during mid-day trading on Wednesday, hitting $38.03. 291,590 shares of the company’s stock were exchanged. Herc Holdings Inc. has a 52 week low of $28.66 and a 52 week high of $52.96. The firm has a 50 day moving average of $42.88 and a 200 day moving average of $44.40. The stock’s market capitalization is $1.08 billion.
Herc Holdings (NYSE:HRI) last posted its earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.25. Herc Holdings had a negative return on equity of 9.52% and a negative net margin of 4.82%. The company had revenue of $416 million during the quarter, compared to the consensus estimate of $397 million. During the same quarter last year, the firm earned ($0.28) earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that Herc Holdings Inc. will post ($0.74) earnings per share for the current fiscal year.
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HRI has been the subject of a number of recent analyst reports. MKM Partners reaffirmed a “buy” rating and set a $22.00 price target on shares of Herc Holdings in a report on Friday, July 7th. Zacks Investment Research raised shares of Herc Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Sidoti lowered shares of Herc Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, May 18th. Finally, ValuEngine raised shares of Herc Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.
In other news, major shareholder Carl C. Icahn bought 109,249 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $38.95 per share, with a total value of $4,255,248.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Bruce Dressel bought 5,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were purchased at an average cost of $35.61 per share, with a total value of $178,050.00. Following the acquisition, the chief operating officer now directly owns 38,902 shares of the company’s stock, valued at approximately $1,385,300.22. The disclosure for this purchase can be found here. Insiders have bought 116,749 shares of company stock valued at $4,530,849 in the last three months. Insiders own 0.12% of the company’s stock.
About Herc Holdings
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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