First Trust Advisors LP Increases Stock Holdings in Herc Holdings Inc. $HRI

First Trust Advisors LP increased its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 667,669 shares of the transportation company’s stock after buying an additional 132,984 shares during the quarter. First Trust Advisors LP owned about 2.01% of Herc worth $87,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in shares of Herc during the 1st quarter valued at about $118,000. Atria Wealth Solutions Inc. purchased a new stake in Herc in the first quarter valued at approximately $326,000. Vanguard Group Inc. increased its position in Herc by 3.1% during the first quarter. Vanguard Group Inc. now owns 3,163,221 shares of the transportation company’s stock worth $424,726,000 after purchasing an additional 96,329 shares during the last quarter. Deutsche Bank AG raised its stake in Herc by 85.2% during the first quarter. Deutsche Bank AG now owns 45,335 shares of the transportation company’s stock worth $6,087,000 after purchasing an additional 20,860 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in Herc by 212.3% during the first quarter. Wolverine Asset Management LLC now owns 3,644 shares of the transportation company’s stock worth $489,000 after purchasing an additional 2,477 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Price Performance

HRI stock opened at $141.42 on Friday. The firm has a market cap of $4.71 billion, a P/E ratio of -56.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.81. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.22 and a current ratio of 1.22. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $235.40. The stock has a 50-day simple moving average of $130.95 and a 200-day simple moving average of $128.64.

Herc (NYSE:HRI) last released its quarterly earnings results on Thursday, November 2nd. The transportation company reported $3.42 earnings per share for the quarter. The firm had revenue of $745.00 million during the quarter. Herc had a positive return on equity of 16.32% and a negative net margin of 1.68%. On average, equities analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Monday, December 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 15th. Herc’s dividend payout ratio (DPR) is presently -111.11%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on Herc in a report on Thursday, November 13th. They set an “overweight” rating and a $170.00 price objective for the company. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Herc in a research note on Wednesday, October 8th. Citigroup increased their target price on shares of Herc from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Herc from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Herc 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.