Herc Holdings Inc. (HRI) to Distribute Quarterly Dividend of $0.70 on September 16th

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Wednesday, August 19th. Stockholders of record on Wednesday, September 2nd will be given a dividend of 0.70 per share by the transportation company on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, September 2nd.

Herc has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Herc to earn $7.87 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 35.6%.

Herc Stock Performance

HRI opened at $150.43 on Monday. The firm has a 50 day moving average of $154.26 and a two-hundred day moving average of $137.19. The firm has a market capitalization of $5.03 billion, a PE ratio of 102.33, a P/E/G ratio of 20.91 and a beta of 1.86. Herc has a 12-month low of $88.45 and a 12-month high of $188.35. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.22.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. Herc had a return on equity of 10.33% and a net margin of 1.01%.The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. On average, analysts anticipate that Herc will post 6.93 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in Herc by 176.9% in the 1st quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock valued at $3,462,000 after purchasing an additional 16,470 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Herc by 25.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock valued at $35,337,000 after buying an additional 53,054 shares during the period. Cetera Investment Advisers acquired a new position in Herc in the second quarter valued at approximately $267,000. Federated Hermes Inc. lifted its holdings in Herc by 12,425.7% in the second quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock valued at $2,755,000 after acquiring an additional 20,751 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in Herc by 9.0% in the second quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock worth $7,075,000 after acquiring an additional 4,451 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Company 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.