Herc Holdings Inc. $HRI Shares Bought by Pier Capital LLC

Pier Capital LLC raised its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,082 shares of the transportation company’s stock after purchasing an additional 8,040 shares during the period. Pier Capital LLC’s holdings in Herc were worth $6,659,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its stake in Herc by 53.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 248 shares of the transportation company’s stock worth $29,000 after buying an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Herc in the third quarter valued at about $31,000. AlphaQuest LLC grew its stake in shares of Herc by 20.3% during the third quarter. AlphaQuest LLC now owns 438 shares of the transportation company’s stock worth $51,000 after acquiring an additional 74 shares during the last quarter. BOKF NA purchased a new stake in shares of Herc during the third quarter worth about $52,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Herc by 114.7% during the second quarter. PNC Financial Services Group Inc. now owns 584 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Herc in a research note on Thursday, January 22nd. Barclays lifted their price objective on shares of Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Robert W. Baird dropped their price objective on shares of Herc from $200.00 to $198.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Citigroup reduced their target price on Herc from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company increased their price objective on Herc from $170.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.43.

Herc Trading Down 3.9%

NYSE HRI opened at $111.00 on Friday. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $188.35. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $3.70 billion, a PE ratio of -616.67, a P/E/G ratio of 15.57 and a beta of 1.73. The company has a fifty day moving average of $153.69 and a 200 day moving average of $141.35.

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

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, February 18th. Herc’s dividend payout ratio is currently -1,555.56%.

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.