JPMorgan Chase & Co. Boosts Stake in Herc Holdings Inc. (HRI)
JPMorgan Chase & Co. lifted its position in Herc Holdings Inc. (NYSE:HRI) by 67.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,441 shares of the transportation company’s stock after buying an additional 52,275 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of Herc Holdings worth $5,089,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of HRI. Bank of New York Mellon Corp raised its stake in shares of Herc Holdings by 81.3% in the 1st quarter. Bank of New York Mellon Corp now owns 158,933 shares of the transportation company’s stock worth $7,770,000 after buying an additional 71,265 shares in the last quarter. Swiss National Bank raised its stake in shares of Herc Holdings by 4.2% in the 1st quarter. Swiss National Bank now owns 39,546 shares of the transportation company’s stock worth $1,933,000 after buying an additional 1,600 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Herc Holdings by 7.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 187,567 shares of the transportation company’s stock worth $9,170,000 after buying an additional 13,648 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Herc Holdings in the 1st quarter worth $18,278,000. Finally, Alliancebernstein L.P. raised its stake in shares of Herc Holdings by 13.0% in the 1st quarter. Alliancebernstein L.P. now owns 22,639 shares of the transportation company’s stock worth $1,107,000 after buying an additional 2,600 shares in the last quarter.
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A number of analysts have recently commented on HRI shares. Zacks Investment Research raised Herc Holdings from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday. ValuEngine raised Herc Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, MKM Partners reissued a “buy” rating and issued a $22.00 price objective on shares of Herc Holdings in a research note on Friday, July 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.71.
In other Herc Holdings news, COO James Bruce Dressel acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $39.02 per share, with a total value of $97,550.00. Following the purchase, the chief operating officer now owns 41,402 shares of the company’s stock, valued at approximately $1,615,506.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carl C. Icahn acquired 109,249 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $38.95 per share, for a total transaction of $4,255,248.55. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.
Shares of Herc Holdings Inc. (NYSE HRI) opened at 50.22 on Friday. The stock’s 50 day moving average price is $44.19 and its 200-day moving average price is $43.15. The firm’s market capitalization is $1.42 billion. Herc Holdings Inc. has a 12 month low of $28.66 and a 12 month high of $52.96.
Herc Holdings (NYSE:HRI) last posted its quarterly earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.25. The company had revenue of $416.00 million for the quarter, compared to the consensus estimate of $397.00 million. Herc Holdings had a negative return on equity of 9.52% and a negative net margin of 4.82%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.28) EPS. On average, equities research analysts predict that Herc Holdings Inc. will post ($0.55) EPS for the current fiscal year.
Herc Holdings Company Profile
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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