Pictet Asset Management Holding SA Boosts Stock Holdings in Herc Holdings Inc. $HRI

Pictet Asset Management Holding SA raised its position in shares of Herc Holdings Inc. (NYSE:HRI) by 1,777.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,116 shares of the transportation company’s stock after acquiring an additional 82,475 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.26% of Herc worth $8,672,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HRI. Hantz Financial Services Inc. boosted its stake in shares of Herc by 342.1% in the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Herc during the 3rd quarter worth $35,000. Smartleaf Asset Management LLC grew its holdings in shares of Herc by 50.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after buying an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Herc during the third quarter worth $40,000. Finally, Covestor Ltd lifted its stake in shares of Herc by 78.1% in the fourth quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock worth $53,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Down 0.1%

Shares of NYSE HRI opened at $134.72 on Friday. The company has a 50 day simple moving average of $138.12 and a 200-day simple moving average of $137.93. The company has a market capitalization of $4.50 billion, a P/E ratio of -498.97, a P/E/G ratio of 24.43 and a beta of 1.88. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.46. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35.

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

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 29th. Herc’s dividend payout ratio (DPR) is presently -1,037.04%.

Wall Street Analyst Weigh In

HRI has been the topic of a number of recent research reports. Citigroup boosted 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. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. KeyCorp lowered their target price on Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Wells Fargo & Company upped their price target on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price target on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.86.

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.