Loomis Sayles & Co. L P cut its holdings in Herc Holdings Inc. (NYSE:HRI – Get Rating) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 412,014 shares of the transportation company’s stock after selling 34,721 shares during the period. Loomis Sayles & Co. L P owned 1.38% of Herc worth $68,843,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in HRI. SOA Wealth Advisors LLC. purchased a new stake in shares of Herc in the first quarter worth $28,000. First Quadrant LLC CA purchased a new stake in shares of Herc in the first quarter worth $38,000. Covestor Ltd purchased a new stake in shares of Herc in the fourth quarter worth $41,000. PNC Financial Services Group Inc. increased its stake in shares of Herc by 90.9% in the first 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. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Herc in the fourth quarter worth $63,000. 94.67% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on HRI shares. The Goldman Sachs Group reduced their price objective on shares of Herc from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. KeyCorp raised their target price on shares of Herc from $130.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. Finally, Wells Fargo & Company cut their target price on shares of Herc to $165.00 in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Herc presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.83.
Herc Price Performance
Herc (NYSE:HRI – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The transportation company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.11). Herc had a net margin of 11.76% and a return on equity of 28.42%. The business had revenue of $640.40 million for the quarter, compared to the consensus estimate of $631.11 million. During the same quarter last year, the business earned $1.57 EPS. Herc’s revenue for the quarter was up 30.6% compared to the same quarter last year. Analysts anticipate that Herc Holdings Inc. will post 11.81 earnings per share for the current fiscal year.
Herc Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, August 18th. This represents a $2.30 annualized dividend and a yield of 1.96%. Herc’s dividend payout ratio (DPR) is currently 25.47%.
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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