VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Herc Holdings Inc. $HRI

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Herc Holdings Inc. (NYSE:HRI – Free Report) in the second quarter, Holdings Channel reports. The firm bought 14,500 shares of the transportation company’s stock, valued at approximately $2,078,000.

Several other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of Herc by 14,281.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,268,318 shares of the transportation company’s stock worth $755,161,000 after acquiring an additional 5,231,686 shares during the period. Norges Bank bought a new stake in Herc in the 4th quarter valued at about $287,269,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Herc by 86,823.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,335,138 shares of the transportation company’s stock valued at $198,108,000 after purchasing an additional 1,333,602 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Herc during the second quarter valued at about $86,054,000. Finally, Freestone Grove Partners LP boosted its position in Herc by 667.9% during the fourth quarter. Freestone Grove Partners LP now owns 573,149 shares of the transportation company’s stock worth $85,044,000 after purchasing an additional 498,511 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HRI has been the subject of several recent research reports. Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. KeyCorp raised their price objective on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price objective on shares of Herc from $176.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Citigroup boosted their target price on shares of Herc from $155.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upgraded Herc from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $165.00 to $175.00 in a research report on Thursday. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.43.

View Our Latest Research Report on HRI

Herc Trading Down 0.7%

Shares of HRI opened at $141.02 on Friday. The business’s 50-day moving average price is $153.90 and its 200-day moving average price is $135.87. Herc Holdings Inc. has a twelve month low of $88.45 and a twelve month high of $188.35. The stock has a market cap of $4.71 billion, a PE ratio of 95.93, a P/E/G ratio of 19.72 and a beta of 1.86. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22.

Herc (NYSE:HRI – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.67. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. Herc had a net margin of 1.01% and a return on equity of 10.33%. Herc’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $1.87 earnings per share. On average, equities analysts forecast that Herc Holdings Inc. will post 6.93 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 2.0%. Herc’s dividend payout ratio is currently 190.48%.

Herc Company Profile

(Free Report)

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

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

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