Quantbot Technologies LP Invests $776,000 in Herc Holdings Inc. $HRI

Quantbot Technologies LP acquired a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,891 shares of the transportation company’s stock, valued at approximately $776,000.

A number of other institutional investors have also modified their holdings of the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of Herc in the first quarter worth about $326,000. Vanguard Group Inc. raised its holdings in Herc by 3.1% in the 1st 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 period. Deutsche Bank AG boosted its position 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Herc in the first quarter valued at approximately $6,792,000. Finally, Invesco Ltd. grew its stake in Herc by 104.7% during the 1st quarter. Invesco Ltd. now owns 2,986,479 shares of the transportation company’s stock valued at $400,995,000 after acquiring an additional 1,527,244 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Price Performance

Shares of HRI opened at $142.51 on Wednesday. The company has a market cap of $4.74 billion, a P/E ratio of -56.55, a PEG ratio of 1.42 and a beta of 1.81. The stock has a fifty day moving average price of $132.00 and a 200 day moving average price of $128.87. Herc Holdings Inc. has a 12 month low of $96.18 and a 12 month high of $222.43. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.22 and a quick ratio of 1.22.

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

Herc Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HRI. Baird R W raised shares of Herc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Wells Fargo & Company started coverage on shares of Herc in a research note on Thursday, November 13th. They issued an “overweight” rating and a $170.00 price target for the company. Robert W. Baird set a $200.00 target price on shares of Herc in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Herc from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.