Fisher Asset Management LLC Grows Holdings in Herc Holdings Inc. $HRI

Fisher Asset Management LLC lifted its position in shares of Herc Holdings Inc. (NYSE:HRI) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 588,396 shares of the transportation company’s stock after buying an additional 3,549 shares during the quarter. Fisher Asset Management LLC owned approximately 1.77% of Herc worth $68,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HRI. Harbor Capital Advisors Inc. boosted its position in Herc by 53.1% during the third quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after acquiring an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Herc during the 3rd quarter worth $31,000. AlphaQuest LLC boosted its holdings in shares of Herc by 158.2% during the second quarter. AlphaQuest LLC now owns 364 shares of the transportation company’s stock worth $48,000 after purchasing an additional 223 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Herc by 114.7% in the second quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 312 shares during the period. Finally, CX Institutional acquired a new position in Herc in the third quarter valued at $86,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

HRI has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a report on Thursday, January 22nd. Barclays boosted their target price on shares of Herc from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Citigroup dropped their price target 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. Finally, KeyCorp decreased their price target on shares of Herc from $200.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.29.

Herc Price Performance

HRI opened at $140.92 on Tuesday. Herc Holdings Inc. has a 52-week low of $96.18 and a 52-week high of $188.35. The company has a 50 day moving average of $158.49 and a two-hundred day moving average of $141.60. The company has a market cap of $4.70 billion, a P/E ratio of -782.87, a P/E/G ratio of 18.85 and a beta of 1.73. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.17.

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

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.0%. Herc’s dividend payout ratio is presently -1,555.56%.

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.