Herc Holdings Inc. $HRI Shares Newly Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in Herc Holdings Inc. (NYSE:HRI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,900 shares of the transportation company’s stock, valued at approximately $861,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Herc by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company’s stock valued at $115,872,000 after purchasing an additional 170,189 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Herc by 13.4% in the 1st quarter. First Trust Advisors LP now owns 873,338 shares of the transportation company’s stock valued at $86,941,000 after purchasing an additional 103,047 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Herc during the 2nd quarter valued at approximately $86,054,000. Bank of America Corp DE raised its holdings in Herc by 147.8% during the 1st quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock valued at $23,426,000 after buying an additional 140,355 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new stake in Herc in the first quarter worth $21,866,000. Institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HRI. BNP Paribas Exane raised their target price on shares of Herc from $165.00 to $176.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Robert W. Baird raised their price target on Herc from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Zacks Research upgraded Herc from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. JPMorgan Chase & Co. upped their price target on shares of Herc from $165.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Herc from $176.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.57.

Herc Price Performance

HRI opened at $166.65 on Tuesday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 20.79 and a beta of 1.99. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 4.08. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35. The business’s fifty day simple moving average is $139.86 and its 200-day simple moving average is $139.42.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, October 27th. The transportation company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.99. The firm had revenue of $1.36 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 earnings per share. On average, equities research analysts anticipate that Herc Holdings Inc. will post 7.87 earnings per share for the current fiscal year.

Herc Dividend Announcement

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

About Herc

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.

Herc’s roots are in Hertz Equipment Rental Corporation, which separated from Hertz Global Holdings in 2016 and became an independent publicly traded company.