KLP Kapitalforvaltning AS Has $685,000 Stake in Herc Holdings Inc. (NYSE:HRI)

KLP Kapitalforvaltning AS decreased its position in Herc Holdings Inc. (NYSE:HRI) by 7.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,100 shares of the transportation company’s stock after selling 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Herc were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Herc in the 1st quarter worth approximately $948,000. Jennison Associates LLC boosted its stake in Herc by 79.5% in the 1st quarter. Jennison Associates LLC now owns 299,527 shares of the transportation company’s stock worth $40,217,000 after purchasing an additional 132,693 shares during the period. Bailard Inc. boosted its stake in Herc by 7.0% in the 1st quarter. Bailard Inc. now owns 3,947 shares of the transportation company’s stock worth $530,000 after purchasing an additional 259 shares during the period. Segall Bryant & Hamill LLC lifted its position in Herc by 9.0% in the 1st quarter. Segall Bryant & Hamill LLC now owns 31,796 shares of the transportation company’s stock worth $4,269,000 after buying an additional 2,626 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Herc by 113.7% in the 1st quarter. Victory Capital Management Inc. now owns 20,496 shares of the transportation company’s stock worth $2,752,000 after buying an additional 10,907 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $146.00 target price (down previously from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Robert W. Baird cut their target price on shares of Herc from $129.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Barclays cut their target price on shares of Herc from $250.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Citigroup reiterated a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Herc in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Herc has a consensus rating of “Moderate Buy” and a consensus target price of $139.20.

Herc Trading Down 17.2%

Shares of NYSE:HRI opened at $124.14 on Wednesday. The stock has a market capitalization of $3.54 billion, a PE ratio of 27.65, a P/E/G ratio of 3.76 and a beta of 1.86. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $246.88. The firm has a fifty day moving average price of $129.58 and a 200 day moving average price of $142.94. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.04.

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, May 30th. Herc’s dividend payout ratio is presently 62.36%.

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.