Sterling Capital Management LLC Decreases Stock Holdings in Herc Holdings Inc. $HRI

Sterling Capital Management LLC trimmed its position in shares of Herc Holdings Inc. (NYSE:HRI) by 15.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,213 shares of the transportation company’s stock after selling 3,480 shares during the period. Sterling Capital Management LLC’s holdings in Herc were worth $1,913,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. grew its stake in shares of Herc by 342.1% in the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Herc during the 3rd quarter valued at approximately $31,000. Advisory Services Network LLC bought a new position in Herc during the 3rd quarter valued at approximately $35,000. Smartleaf Asset Management LLC lifted its holdings in Herc by 50.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after buying an additional 111 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Herc in the 3rd quarter worth approximately $40,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRI has been the topic of several research analyst reports. Weiss Ratings cut Herc from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 21st. Citigroup lifted their price target on shares of Herc from $135.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, April 30th. KeyCorp reduced their price objective on shares of Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, Wells Fargo & Company upped their price objective on shares of Herc from $160.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $164.86.

Herc Stock Down 3.7%

HRI stock opened at $145.67 on Tuesday. 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 market capitalization of $4.86 billion, a price-to-earnings ratio of -539.53, a price-to-earnings-growth ratio of 27.39 and a beta of 1.89. The business’s 50 day moving average price is $135.77 and its two-hundred day moving average price is $138.23. 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 released its earnings results on Tuesday, April 28th. The transportation company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.42. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. As a group, analysts forecast 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 was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 1.9%. Herc’s dividend payout ratio (DPR) is currently -1,037.04%.

About Herc

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.