Fisher Asset Management LLC Lowers Position in Herc Holdings Inc. (NYSE:HRI)

Fisher Asset Management LLC lowered its stake in Herc Holdings Inc. (NYSE:HRI) by 21.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 417,866 shares of the transportation company’s stock after selling 115,417 shares during the quarter. Fisher Asset Management LLC’s holdings in Herc were worth $62,216,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HRI. Hexagon Capital Partners LLC lifted its holdings in shares of Herc by 576.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 311 shares of the transportation company’s stock worth $46,000 after acquiring an additional 265 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Herc by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,973 shares of the transportation company’s stock worth $740,000 after purchasing an additional 74 shares in the last quarter. Eagle Wealth Strategies LLC purchased a new position in shares of Herc during the fourth quarter worth $230,000. Kovack Advisors Inc. acquired a new stake in shares of Herc in the fourth quarter valued at $321,000. Finally, O Brien Greene & Co. Inc purchased a new stake in shares of Herc in the 4th quarter valued at $893,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Buying and Selling

In other news, COO Aaron Birnbaum sold 5,844 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $152.33, for a total value of $890,216.52. Following the transaction, the chief operating officer now owns 48,232 shares of the company’s stock, valued at $7,347,180.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Aaron Birnbaum sold 5,844 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $152.33, for a total transaction of $890,216.52. Following the completion of the transaction, the chief operating officer now directly owns 48,232 shares of the company’s stock, valued at $7,347,180.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tamir Peres sold 3,545 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $159.10, for a total transaction of $564,009.50. Following the completion of the sale, the senior vice president now owns 41,236 shares of the company’s stock, valued at approximately $6,560,647.60. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on HRI shares. The Goldman Sachs Group lifted their target price 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. Finally, StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $152.50.

Herc Stock Down 1.1 %

Shares of NYSE HRI opened at $146.90 on Friday. The business has a 50-day moving average of $158.91 and a two-hundred day moving average of $142.85. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27. Herc Holdings Inc. has a 1 year low of $93.97 and a 1 year high of $171.00. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.51 and a quick ratio of 1.51.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.05). The business had revenue of $831.00 million for the quarter, compared to analysts’ expectations of $858.06 million. Herc had a return on equity of 28.68% and a net margin of 10.31%. Herc’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.44 EPS. On average, analysts forecast that Herc Holdings Inc. will post 14.59 earnings per share for the current fiscal year.

Herc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Wednesday, February 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.66 dividend on an annualized basis and a yield of 1.81%. This is a boost from Herc’s previous quarterly dividend of $0.63. Herc’s dividend payout ratio is currently 21.97%.

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.