Pictet Asset Management Holding SA Increases Stock Position in Herc Holdings Inc. (NYSE:HRI)

Pictet Asset Management Holding SA boosted its holdings in Herc Holdings Inc. (NYSE:HRI) by 26.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,271 shares of the transportation company’s stock after acquiring an additional 885 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Herc were worth $809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Herc by 53.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 80 shares during the last quarter. Norges Bank purchased a new stake in Herc during the 4th quarter valued at $183,786,000. NEOS Investment Management LLC lifted its holdings in shares of Herc by 22.9% during the 4th quarter. NEOS Investment Management LLC now owns 22,369 shares of the transportation company’s stock valued at $4,235,000 after buying an additional 4,161 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Herc by 79.9% during the 4th quarter. JPMorgan Chase & Co. now owns 186,558 shares of the transportation company’s stock valued at $35,321,000 after buying an additional 82,834 shares during the period. Finally, Pier Capital LLC boosted its stake in shares of Herc by 1.4% in the 4th quarter. Pier Capital LLC now owns 53,883 shares of the transportation company’s stock worth $10,202,000 after buying an additional 768 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Herc Price Performance

Shares of Herc stock opened at $119.13 on Tuesday. The stock has a market cap of $3.39 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.61 and a beta of 1.93. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s fifty day moving average is $158.71 and its 200 day moving average is $183.67. Herc Holdings Inc. has a one year low of $110.65 and a one year high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.40). The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. Sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 annualized dividend and a yield of 2.35%. This is an increase from Herc’s previous quarterly dividend of $0.67. Herc’s payout ratio is currently 37.79%.

Analyst Ratings Changes

HRI has been the subject of a number of research reports. Citigroup started coverage on Herc in a research report on Monday, March 24th. They set a “buy” rating and a $165.00 price objective for the company. The Goldman Sachs Group cut their price target on Herc from $234.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Herc has a consensus rating of “Moderate Buy” and a consensus target price of $202.20.

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.