Deutsche Bank AG Raises Position in Herc Holdings Inc. (NYSE:HRI)

Deutsche Bank AG grew its position in Herc Holdings Inc. (NYSE:HRI) by 85.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 45,335 shares of the transportation company’s stock after purchasing an additional 20,860 shares during the quarter. Deutsche Bank AG’s holdings in Herc were worth $6,087,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Herc in the first quarter worth approximately $11,259,000. D.A. Davidson & CO. grew its stake in shares of Herc by 9.6% in the first quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company’s stock worth $5,270,000 after acquiring an additional 3,435 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Herc by 8.0% in the first quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company’s stock worth $907,000 after acquiring an additional 500 shares during the period. Millennium Management LLC grew its stake in shares of Herc by 1,221.2% in the fourth quarter. Millennium Management LLC now owns 40,732 shares of the transportation company’s stock worth $7,712,000 after acquiring an additional 37,649 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Herc in the fourth quarter worth approximately $2,359,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Price Performance

Shares of NYSE:HRI opened at $125.10 on Friday. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $246.88. The firm’s 50 day simple moving average is $127.89 and its two-hundred day simple moving average is $135.26. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $4.16 billion, a P/E ratio of 145.47, a P/E/G ratio of 1.47 and a beta of 1.86.

Herc (NYSE:HRI) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.29 by $0.58. Herc had a net margin of 0.61% and a return on equity of 20.77%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $868.23 million. Research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 22nd. Herc’s payout ratio is 325.58%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HRI shares. Barclays reduced their price target on shares of Herc from $250.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $146.00 price target (down from $171.00) on shares of Herc in a research note on Tuesday, April 22nd. Robert W. Baird cut their target price on shares of Herc from $142.00 to $137.00 and set a “neutral” rating for the company in a research report on Wednesday, July 30th. Finally, Citigroup cut their target price on shares of Herc from $170.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.60.

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.