NEOS Investment Management LLC Reduces Stake in Herc Holdings Inc. $HRI

NEOS Investment Management LLC trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI) by 47.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,183 shares of the transportation company’s stock after selling 18,389 shares during the quarter. NEOS Investment Management LLC owned approximately 0.06% of Herc worth $2,355,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Evergreen Capital Management LLC purchased a new stake in shares of Herc in the third quarter valued at $7,876,000. SG Americas Securities LLC raised its stake in Herc by 397.5% in the 3rd quarter. SG Americas Securities LLC now owns 8,373 shares of the transportation company’s stock valued at $977,000 after purchasing an additional 6,690 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Herc by 15.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,484 shares of the transportation company’s stock valued at $9,685,000 after purchasing an additional 11,032 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in Herc in the 3rd quarter valued at about $2,291,000. Finally, Greenland Capital Management LP acquired a new stake in shares of Herc during the 2nd quarter worth about $395,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Trading Down 2.4%

Shares of HRI opened at $143.61 on Friday. Herc Holdings Inc. has a twelve month low of $96.18 and a twelve month high of $188.35. The firm has a market capitalization of $4.79 billion, a P/E ratio of -797.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 4.17. The stock’s fifty day simple moving average is $159.83 and its 200 day simple moving average is $139.90.

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

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, February 18th. Herc’s payout ratio is currently -111.11%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HRI shares. Robert W. Baird cut their price objective on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup cut their price target on Herc from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday. Barclays increased their price target on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Herc in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Herc from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Herc has a consensus rating of “Moderate Buy” and an average target price of $178.29.

Herc Company Profile

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.