Herc Holdings Inc. (NYSE:HRI) to Issue $0.70 Quarterly Dividend

Herc Holdings Inc. (NYSE:HRI) announced a quarterly dividend on Wednesday, August 19th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of 0.70 per share by the transportation company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 2nd.

Herc has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Herc to earn $7.87 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 35.6%.

Herc Price Performance

NYSE:HRI opened at $167.67 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22. The business’s 50-day simple moving average is $153.19 and its two-hundred day simple moving average is $137.52. The stock has a market cap of $5.61 billion, a PE ratio of 114.06, a P/E/G ratio of 23.16 and a beta of 1.87. Herc has a 52 week low of $88.45 and a 52 week high of $188.35.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. Herc had a return on equity of 10.33% and a net margin of 1.01%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, analysts forecast that Herc will post 6.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Herc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its stake in Herc by 342.1% in the 4th quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Herc during the 3rd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Herc during the 3rd quarter valued at approximately $40,000. NewEdge Advisors LLC grew its holdings in shares of Herc by 628.8% in the third quarter. NewEdge Advisors LLC now owns 430 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 371 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Herc by 50.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 111 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

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.