Massachusetts Financial Services Co. MA Cuts Stake in Herc Holdings Inc. (NYSE:HRI)

Massachusetts Financial Services Co. MA decreased its stake in Herc Holdings Inc. (NYSE:HRI) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,738 shares of the transportation company’s stock after selling 7,311 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Herc were worth $41,410,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Tidal Investments LLC purchased a new stake in shares of Herc during the first quarter valued at approximately $990,000. SG Americas Securities LLC increased its stake in Herc by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock worth $752,000 after buying an additional 3,914 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Herc by 232.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company’s stock worth $2,461,000 after buying an additional 10,217 shares in the last quarter. Quest Partners LLC boosted its position in Herc by 15,137.8% in the 2nd quarter. Quest Partners LLC now owns 6,857 shares of the transportation company’s stock valued at $914,000 after buying an additional 6,812 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp grew its stake in shares of Herc by 265.6% during the second quarter. Lombard Odier Asset Management USA Corp now owns 9,534 shares of the transportation company’s stock valued at $1,271,000 after acquiring an additional 6,926 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HRI. The Goldman Sachs Group increased their price target on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays increased their target price on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $212.25.

Herc Price Performance

Shares of NYSE HRI opened at $222.92 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.25 and a beta of 2.02. Herc Holdings Inc. has a twelve month low of $119.08 and a twelve month high of $246.88. The business has a 50 day simple moving average of $187.77 and a 200-day simple moving average of $156.74.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). Herc had a return on equity of 26.35% and a net margin of 10.09%. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $931.33 million. During the same period last year, the company posted $4.00 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that Herc Holdings Inc. will post 13.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Samuel Wade Sheek sold 5,000 shares of Herc stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the sale, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael A. Kelly sold 3,880 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the transaction, the director now owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Herc Company Profile

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.