Strs Ohio Sells 4,800 Shares of Herc Holdings Inc. $HRI

Strs Ohio trimmed its stake in Herc Holdings Inc. (NYSE:HRI) by 75.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,600 shares of the transportation company’s stock after selling 4,800 shares during the quarter. Strs Ohio’s holdings in Herc were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HRI. Norges Bank purchased a new position in shares of Herc in the 2nd quarter worth about $242,697,000. Invesco Ltd. raised its holdings in Herc by 24.2% in the second quarter. Invesco Ltd. now owns 3,709,718 shares of the transportation company’s stock worth $488,533,000 after buying an additional 723,239 shares during the last quarter. American Century Companies Inc. raised its holdings in Herc by 29.1% in the second quarter. American Century Companies Inc. now owns 1,204,740 shares of the transportation company’s stock worth $158,653,000 after buying an additional 271,532 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Herc by 34.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 943,722 shares of the transportation company’s stock worth $110,095,000 after buying an additional 243,320 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Herc by 40.0% during the second quarter. Alliancebernstein L.P. now owns 825,511 shares of the transportation company’s stock valued at $108,712,000 after buying an additional 235,694 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HRI. Robert W. Baird set a $200.00 price objective on shares of Herc in a report on Wednesday, October 29th. Citigroup lifted their target price on Herc from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Barclays boosted their price target on Herc from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. KeyCorp set a $200.00 price objective on Herc and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company lifted their price objective on Herc from $170.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Herc presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.43.

Herc Price Performance

NYSE HRI opened at $149.95 on Tuesday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -59.50, a PEG ratio of 1.33 and a beta of 1.77. Herc Holdings Inc. has a 1-year low of $96.18 and a 1-year high of $211.88. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average price is $152.68 and its 200-day moving average price is $136.79.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 15th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.9%. Herc’s dividend payout ratio is presently -111.11%.

Herc 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.