Gamco Investors INC. ET AL Has $128.47 Million Position in Herc Holdings Inc. $HRI

Gamco Investors INC. ET AL reduced its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 1,101,214 shares of the transportation company’s stock after selling 12,622 shares during the period. Herc comprises 1.2% of Gamco Investors INC. ET AL’s portfolio, making the stock its 10th biggest holding. Gamco Investors INC. ET AL’s holdings in Herc were worth $128,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. raised its position in Herc by 24.2% in the 2nd quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after buying an additional 723,239 shares during the last quarter. Norges Bank bought a new position in Herc during the 2nd quarter valued at about $242,697,000. American Century Companies Inc. boosted its holdings in shares of Herc by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 1,301,975 shares of the transportation company’s stock valued at $151,889,000 after acquiring an additional 97,235 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Herc by 34.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 943,722 shares of the transportation company’s stock valued at $110,095,000 after acquiring an additional 243,320 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Herc by 40.0% in the second quarter. Alliancebernstein L.P. now owns 825,511 shares of the transportation company’s stock worth $108,712,000 after acquiring an additional 235,694 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HRI has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. Citigroup cut their target price on shares of Herc from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Robert W. Baird decreased their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research note on Wednesday, February 18th. Barclays increased their price target on Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. raised their price target on Herc from $150.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.29.

Herc Price Performance

Shares of Herc stock opened at $120.30 on Friday. Herc Holdings Inc. has a one year low of $96.18 and a one year high of $188.35. The stock’s fifty day moving average is $156.54 and its 200 day moving average is $141.57. The stock has a market cap of $4.01 billion, a P/E ratio of -668.33, a P/E/G ratio of 17.77 and a beta of 1.73. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.31 and a current ratio of 1.31.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, February 17th. The transportation company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.20. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.25 billion. Herc had a return on equity of 13.21% and a net margin of 0.02%.Herc’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.58 earnings per share. Sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.3%. Herc’s payout ratio is -1,555.56%.

Herc Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.