Chartwell Investment Partners LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,853 shares of the transportation company’s stock, valued at approximately $1,464,000.
A number of other large investors have also recently bought and sold shares of HRI. PNC Financial Services Group Inc. boosted its position in Herc by 90.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after purchasing an additional 150 shares in the last quarter. CI Investments Inc. boosted its position in Herc by 34.4% in the 4th quarter. CI Investments Inc. now owns 500 shares of the transportation company’s stock worth $66,000 after purchasing an additional 128 shares in the last quarter. Captrust Financial Advisors boosted its position in Herc by 152.5% in the 2nd quarter. Captrust Financial Advisors now owns 803 shares of the transportation company’s stock worth $72,000 after purchasing an additional 485 shares in the last quarter. Covestor Ltd boosted its position in Herc by 95.8% in the 1st quarter. Covestor Ltd now owns 507 shares of the transportation company’s stock worth $85,000 after purchasing an additional 248 shares in the last quarter. Finally, Salem Investment Counselors Inc. purchased a new stake in Herc in the 1st quarter worth approximately $109,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.
Herc Stock Up 0.9 %
NYSE HRI opened at $126.54 on Tuesday. The business has a fifty day moving average price of $109.86 and a 200 day moving average price of $124.72. Herc Holdings Inc. has a one year low of $86.19 and a one year high of $162.46. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $3.61 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.61 and a beta of 2.46.
Herc Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were paid a $0.632 dividend. This represents a $2.53 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, May 25th. Herc’s dividend payout ratio is currently 22.41%.
Wall Street Analyst Weigh In
Several research firms have commented on HRI. Bank of America lowered their price objective on Herc from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. KeyCorp reduced their target price on Herc from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, April 21st. Finally, StockNews.com began coverage on Herc in a research note on Thursday, May 18th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.00.
Insider Activity at Herc
In related news, SVP Christian J. Cunningham sold 9,973 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $125.27, for a total value of $1,249,317.71. Following the completion of the transaction, the senior vice president now directly owns 57,088 shares of the company’s stock, valued at approximately $7,151,413.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.
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.
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