Peregrine Capital Management LLC Takes Position in Herc Holdings Inc. $HRI

Peregrine Capital Management LLC purchased a new position in Herc Holdings Inc. (NYSE:HRI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 62,618 shares of the transportation company’s stock, valued at approximately $6,234,000. Peregrine Capital Management LLC owned approximately 0.19% of Herc as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Herc by 176.9% in the first quarter. AQR Capital Management LLC now owns 25,782 shares of the transportation company’s stock valued at $3,462,000 after buying an additional 16,470 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Herc by 25.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 263,180 shares of the transportation company’s stock worth $35,337,000 after acquiring an additional 53,054 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Herc in the 2nd quarter worth approximately $267,000. Federated Hermes Inc. increased its holdings in shares of Herc by 12,425.7% in the 2nd quarter. Federated Hermes Inc. now owns 20,918 shares of the transportation company’s stock valued at $2,755,000 after acquiring an additional 20,751 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Herc by 9.0% in the 2nd quarter. California Public Employees Retirement System now owns 53,728 shares of the transportation company’s stock valued at $7,075,000 after acquiring an additional 4,451 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Trading Down 1.8%

Shares of HRI stock opened at $140.81 on Thursday. Herc Holdings Inc. has a 1 year low of $88.45 and a 1 year high of $188.35. The firm has a market capitalization of $4.70 billion, a PE ratio of -521.50, a price-to-earnings-growth ratio of 25.96 and a beta of 1.88. The stock has a fifty day moving average of $137.04 and a two-hundred day moving average of $138.09. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. As a group, research analysts expect that Herc Holdings Inc. will post 5.31 EPS for the current year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid 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 2.0%. Herc’s dividend payout ratio (DPR) is presently -1,037.04%.

Analyst Ratings Changes

Several research firms have weighed in on HRI. Wells Fargo & Company boosted their target price on shares of Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Citigroup boosted their price objective on shares of Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. KeyCorp dropped their price objective on shares of Herc from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Finally, Weiss Ratings cut shares of Herc from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $164.86.

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.