MetLife Investment Management LLC Acquires 282 Shares of Herc Holdings Inc. (NYSE:HRI)

Posted by Defense World Staff on Mar 1st, 2023

MetLife Investment Management LLC grew its stake in shares of Herc Holdings Inc. (NYSE:HRI – Get Rating) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,484 shares of the transportation company’s stock after purchasing an additional 282 shares during the period. MetLife Investment Management LLC’s holdings in Herc were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Credit Suisse AG grew its position in Herc by 1.7% during the third quarter. Credit Suisse AG now owns 21,695 shares of the transportation company’s stock valued at $2,253,000 after buying an additional 364 shares during the period. ExodusPoint Capital Management LP lifted its stake in Herc by 59.8% during the third quarter. ExodusPoint Capital Management LP now owns 29,325 shares of the transportation company’s stock worth $3,046,000 after purchasing an additional 10,969 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Herc by 13.7% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 17,740 shares of the transportation company’s stock valued at $1,843,000 after purchasing an additional 2,131 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Herc by 154.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,903 shares of the transportation company’s stock worth $198,000 after buying an additional 1,155 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Herc by 31.4% during the third quarter. UBS Group AG now owns 6,295 shares of the transportation company’s stock worth $654,000 after acquiring an additional 1,503 shares in the last quarter. Institutional investors own 96.85% of the company’s stock.

Herc Trading Up 1.1 %

NYSE:HRI opened at $143.59 on Wednesday. Herc Holdings Inc. has a 52 week low of $83.43 and a 52 week high of $171.74. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.68 and a beta of 2.49. The company’s 50 day moving average price is $144.28 and its 200-day moving average price is $128.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.73.

Herc (NYSE:HRI – Get Rating) last posted its earnings results on Tuesday, February 14th. The transportation company reported $3.44 EPS for the quarter, missing analysts’ consensus estimates of $3.50 by ($0.06). The business had revenue of $786.00 million during the quarter, compared to the consensus estimate of $773.29 million. Herc had a return on equity of 31.88% and a net margin of 12.05%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. On average, equities research analysts forecast that Herc Holdings Inc. will post 14.34 earnings per share for the current fiscal year.

Herc Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Wednesday, February 22nd will be given a dividend of $0.632 per share. The ex-dividend date of this dividend is Tuesday, February 21st. This represents a $2.53 annualized dividend and a yield of 1.76%. This is a positive change from Herc’s previous quarterly dividend of $0.58. Herc’s dividend payout ratio (DPR) is 23.15%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HRI shares. KeyCorp upped their price target on shares of Herc from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Barclays lifted their price target on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Herc has a consensus rating of “Moderate Buy” and a consensus price target of $164.60.

Insider Transactions at Herc

In other news, CFO Mark Irion sold 4,194 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $131.37, for a total transaction of $550,965.78. Following the transaction, the chief financial officer now directly owns 47,520 shares of the company’s stock, valued at $6,242,702.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark Irion sold 4,194 shares of Herc stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $131.37, for a total value of $550,965.78. Following the transaction, the chief financial officer now owns 47,520 shares of the company’s stock, valued at approximately $6,242,702.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Aaron Birnbaum sold 6,141 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $141.69, for a total transaction of $870,118.29. Following the sale, the chief operating officer now directly owns 44,809 shares of the company’s stock, valued at approximately $6,348,987.21. The disclosure for this sale can be found here. In the last 90 days, insiders sold 577,426 shares of company stock worth $85,057,921. 1.40% of the stock is currently owned by company insiders.

Herc Profile

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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.