Summit Global Investments Decreases Holdings in Herc Holdings Inc. (NYSE:HRI)

Summit Global Investments lessened its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 38.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,797 shares of the transportation company’s stock after selling 3,562 shares during the quarter. Summit Global Investments’ holdings in Herc were worth $1,098,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Argent Capital Management LLC boosted its position in Herc by 38.2% during the fourth quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company’s stock worth $1,308,000 after purchasing an additional 1,910 shares during the period. Proficio Capital Partners LLC bought a new position in Herc during the fourth quarter worth about $5,377,000. State Street Corp boosted its position in Herc by 0.5% during the third quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock worth $106,165,000 after purchasing an additional 3,006 shares during the period. TT International Asset Management LTD boosted its position in Herc by 324.6% during the third quarter. TT International Asset Management LTD now owns 14,346 shares of the transportation company’s stock worth $2,287,000 after purchasing an additional 10,967 shares during the period. Finally, Motley Fool Wealth Management LLC boosted its position in Herc by 26.4% during the third quarter. Motley Fool Wealth Management LLC now owns 82,863 shares of the transportation company’s stock worth $13,211,000 after purchasing an additional 17,315 shares during the period. Institutional investors own 93.11% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their target price on shares of Herc from $234.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $211.50.

Herc Price Performance

HRI stock opened at $135.60 on Friday. The firm has a 50 day moving average of $173.62 and a 200-day moving average of $183.73. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a 12 month low of $119.60 and a 12 month high of $246.88. The firm has a market capitalization of $3.86 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14.

Herc (NYSE:HRI) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). Herc had a net margin of 5.91% and a return on equity of 26.48%. The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $919.84 million. As a group, sell-side analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $0.70 dividend. This is an increase from Herc’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 18th. Herc’s dividend payout ratio (DPR) is currently 37.79%.

About Herc

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.