Teacher Retirement System of Texas trimmed its stake in shares of Herc Holdings Inc. (NYSE:HRI – Free Report) by 23.4% during the second quarter, Holdings Channel reports. The firm owned 7,086 shares of the transportation company’s stock after selling 2,170 shares during the period. Teacher Retirement System of Texas’ holdings in Herc were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in HRI. Raymond James & Associates raised its position in shares of Herc by 60.9% during the 1st quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock worth $1,724,000 after purchasing an additional 3,904 shares during the period. PNC Financial Services Group Inc. increased 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 valued at $52,000 after acquiring an additional 150 shares during the period. MetLife Investment Management LLC increased its position in Herc by 52.6% in the 1st quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock valued at $2,206,000 after acquiring an additional 4,549 shares during the period. Rhumbline Advisers increased its position in Herc by 3.3% in the 1st quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock valued at $4,740,000 after acquiring an additional 900 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in Herc in the 1st quarter valued at approximately $2,238,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on HRI. Bank of America cut Herc from a “buy” rating to an “underperform” rating and lowered their target price for the company from $150.00 to $140.00 in a research report on Friday, July 21st. StockNews.com began coverage on Herc in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. KeyCorp raised their target price on Herc from $150.00 to $170.00 in a research report on Thursday, July 13th. Finally, Robert W. Baird increased their price target on Herc from $105.00 to $124.00 and gave the company a “neutral” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Herc has an average rating of “Hold” and an average target price of $151.80.
Herc Stock Performance
Shares of NYSE HRI opened at $110.06 on Tuesday. The stock has a fifty day moving average price of $124.98 and a two-hundred day moving average price of $119.83. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $3.14 billion, a P/E ratio of 9.51, a PEG ratio of 0.72 and a beta of 2.53. Herc Holdings Inc. has a 1 year low of $93.97 and a 1 year high of $162.46.
Herc (NYSE:HRI – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.11 by ($0.42). The firm had revenue of $802.00 million for the quarter, compared to the consensus estimate of $811.48 million. Herc had a net margin of 11.14% and a return on equity of 32.16%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 earnings per share. Research analysts forecast that Herc Holdings Inc. will post 12.99 EPS for the current fiscal year.
Herc Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.632 per share. This represents a $2.53 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, August 17th. Herc’s dividend payout ratio is presently 21.87%.
Insider Transactions at Herc
In other news, CEO Lawrence Harris Silber sold 3,054 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $128.94, for a total transaction of $393,782.76. Following the completion of the sale, the chief executive officer now directly owns 221,956 shares of the company’s stock, valued at approximately $28,619,006.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Herc Company 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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