Legato Capital Management LLC Invests $1.60 Million in Herc Holdings Inc. $HRI

Legato Capital Management LLC acquired a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,750 shares of the transportation company’s stock, valued at approximately $1,595,000.

Several other institutional investors and hedge funds have also made changes to their positions in HRI. AQR Capital Management LLC lifted its stake in shares of Herc by 176.9% during the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock worth $3,462,000 after buying an additional 16,470 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Herc by 25.2% during the first quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock worth $35,337,000 after buying an additional 53,054 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Herc during the second quarter worth $267,000. Federated Hermes Inc. lifted its stake in shares of Herc by 12,425.7% during the second quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock worth $2,755,000 after buying an additional 20,751 shares during the period. Finally, California Public Employees Retirement System lifted its position in Herc by 9.0% during the second quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock valued at $7,075,000 after purchasing an additional 4,451 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HRI has been the subject of a number of research reports. KeyCorp decreased their target price on shares of Herc from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Citigroup boosted their target price on shares of Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Herc from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Robert W. Baird decreased their target price on shares of Herc from $200.00 to $198.00 and set an “outperform” rating for the company in a research report on Wednesday, February 18th. Finally, Zacks Research downgraded shares of Herc from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.67.

Herc Trading Down 0.4%

Shares of Herc stock opened at $129.05 on Friday. The firm has a 50-day simple moving average of $114.43 and a two-hundred day simple moving average of $136.76. The company has a market cap of $4.31 billion, a P/E ratio of -477.94, a price-to-earnings-growth ratio of 23.36 and a beta of 1.90. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.46 and a current ratio of 1.46.

Herc (NYSE:HRI) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.42. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. Herc had a negative net margin of 0.11% and a positive return on equity of 10.72%. The company’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. As a group, equities analysts predict that Herc Holdings Inc. will post 5.31 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.70 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. Herc’s dividend payout ratio is -1,037.04%.

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.