Cardinal Point Capital Management ULC Takes $374,000 Position in Herc Holdings Inc. $HRI

Cardinal Point Capital Management ULC acquired a new position in Herc Holdings Inc. (NYSE:HRI) during the first quarter, Holdings Channel reports. The firm acquired 3,756 shares of the transportation company’s stock, valued at approximately $374,000.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Herc by 176.9% during the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock worth $3,462,000 after acquiring an additional 16,470 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Herc by 25.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock valued at $35,337,000 after acquiring an additional 53,054 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Herc during the 2nd quarter valued at about $267,000. Federated Hermes Inc. grew its stake in shares of Herc by 12,425.7% in the 2nd quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock worth $2,755,000 after purchasing an additional 20,751 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Herc by 9.0% in the 2nd quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock worth $7,075,000 after purchasing an additional 4,451 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Herc Price Performance

HRI stock opened at $153.28 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 4.24. Herc Holdings Inc. has a one year low of $88.45 and a one year high of $188.35. The firm has a market capitalization of $5.12 billion, a PE ratio of -567.70, a P/E/G ratio of 25.94 and a beta of 1.89. The firm has a 50-day moving average of $133.91 and a two-hundred day moving average of $138.12.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, April 28th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.42. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. On average, analysts forecast that Herc Holdings Inc. will post 5.31 earnings per share for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 1.8%. Herc’s dividend payout ratio (DPR) is currently -1,037.04%.

Analysts Set New Price Targets

Several research firms recently commented on HRI. KeyCorp cut their target price on shares of Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. Citigroup lifted their price target on shares of Herc from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on Herc from $165.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Wells Fargo & Company increased their price objective on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Zacks Research raised Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Herc has an average rating of “Moderate Buy” and an average price target of $165.67.

About Herc

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.