Herc Holdings Inc. $HRI Stock Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 30.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,039 shares of the transportation company’s stock after buying an additional 27,889 shares during the quarter. Pictet Asset Management Holding SA owned 0.36% of Herc worth $14,981,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming boosted its holdings in shares of Herc by 63.4% in the 3rd quarter. State of Wyoming now owns 469 shares of the transportation company’s stock worth $59,000 after purchasing an additional 182 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Herc in the 2nd quarter worth approximately $68,000. NewEdge Advisors LLC boosted its stake in shares of Herc by 61.4% in the 1st quarter. NewEdge Advisors LLC now owns 694 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 264 shares in the last quarter. Nykredit A S purchased a new position in Herc in the 2nd quarter worth $133,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its stake in Herc by 67.5% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,414 shares of the transportation company’s stock worth $176,000 after purchasing an additional 570 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Herc Trading Down 4.4%

Shares of NYSE HRI opened at $166.18 on Friday. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35. The firm has a 50-day moving average of $141.35 and a 200 day moving average of $139.51. The stock has a market cap of $5.56 billion, a P/E ratio of 22.82 and a beta of 1.99. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.08 and a quick ratio of 1.08.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, October 27th. The transportation company reported $3.91 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.99. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Herc had a return on equity of 13.21% and a net margin of 2.50%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.22 EPS. As a group, sell-side analysts expect that Herc Holdings Inc. will post 7.87 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, September 2nd. Herc’s payout ratio is presently 76.29%.

Wall Street Analyst Weigh In

HRI has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Herc from $176.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. upped their price target on shares of Herc from $165.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. BNP Paribas Exane boosted their price objective on shares of Herc from $165.00 to $176.00 and gave the company a “neutral” rating in a research report on Wednesday, October 28th. Citigroup raised their target price on Herc from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Finally, Robert W. Baird increased their price objective on Herc from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.57.

Herc Profile

Herc Holdings Inc., operating as Herc Rentals, provides equipment rental and related services to customers in construction, industrial, infrastructure, government and other sectors. Its offerings include aerial work platforms, earthmoving and material-handling equipment, power-generation and climate-control systems, pumps, and tools and accessories. The company also provides equipment sales, repair and maintenance, and specialized services such as trench shoring and remediation. Herc Rentals serves customers across the United States and Canada through its rental locations and service network.