Jennison Associates LLC Has $69.40 Million Stake in Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC lifted its position in shares of Herc Holdings Inc. (NYSE:HRI) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,119 shares of the transportation company’s stock after purchasing an additional 11,408 shares during the quarter. Jennison Associates LLC owned 1.65% of Herc worth $69,400,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of Herc by 14.9% during the third quarter. American Century Companies Inc. now owns 350,401 shares of the transportation company’s stock worth $41,677,000 after purchasing an additional 45,427 shares during the period. John G Ullman & Associates Inc. raised its position in shares of Herc by 16.3% during the fourth quarter. John G Ullman & Associates Inc. now owns 34,871 shares of the transportation company’s stock worth $5,192,000 after purchasing an additional 4,900 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Herc during the third quarter worth approximately $1,011,000. Vanguard Group Inc. raised its position in shares of Herc by 0.8% during the third quarter. Vanguard Group Inc. now owns 2,837,432 shares of the transportation company’s stock worth $337,484,000 after purchasing an additional 23,444 shares during the period. Finally, Northern Trust Corp raised its position in Herc by 3.8% in the 3rd quarter. Northern Trust Corp now owns 287,725 shares of the transportation company’s stock valued at $34,222,000 after buying an additional 10,576 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HRI shares. The Goldman Sachs Group increased their price target on Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Robert W. Baird increased their price target on Herc from $117.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Herc presently has an average rating of “Hold” and an average target price of $152.50.

Herc Trading Down 1.2 %

NYSE HRI opened at $148.36 on Tuesday. The firm has a market capitalization of $4.21 billion, a P/E ratio of 12.26, a PEG ratio of 0.73 and a beta of 2.27. The business has a fifty day simple moving average of $158.47 and a 200 day simple moving average of $140.81. Herc Holdings Inc. has a 12 month low of $93.97 and a 12 month high of $171.00. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.97.

Herc (NYSE:HRI) last announced its quarterly earnings data on Tuesday, February 13th. The transportation company reported $3.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.05). The business had revenue of $831.00 million during the quarter, compared to the consensus estimate of $858.06 million. Herc had a net margin of 10.58% and a return on equity of 30.21%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.44 EPS. On average, analysts predict that Herc Holdings Inc. will post 14.75 EPS for the current fiscal year.

Herc Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Wednesday, February 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Herc’s previous quarterly dividend of $0.63. Herc’s dividend payout ratio is 21.98%.

Insider Buying and Selling at Herc

In other Herc news, SVP Tamir Peres sold 3,545 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $159.10, for a total value of $564,009.50. Following the completion of the transaction, the senior vice president now owns 41,236 shares in the company, valued at approximately $6,560,647.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Herc Company 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.