TIAA CREF Investment Management LLC Sells 30,504 Shares of Herc Holdings Inc. (HRI)
TIAA CREF Investment Management LLC reduced its position in Herc Holdings Inc. (NYSE:HRI) by 19.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,846 shares of the transportation company’s stock after selling 30,504 shares during the quarter. TIAA CREF Investment Management LLC owned 0.43% of Herc Holdings worth $4,830,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its stake in Herc Holdings by 19.5% in the second quarter. Gamco Investors INC. ET AL now owns 3,526,858 shares of the transportation company’s stock valued at $138,676,000 after purchasing an additional 575,971 shares during the last quarter. 1060 Capital LLC purchased a new position in Herc Holdings in the second quarter valued at about $16,823,000. Gabelli Funds LLC grew its stake in Herc Holdings by 23.8% in the second quarter. Gabelli Funds LLC now owns 1,251,309 shares of the transportation company’s stock valued at $49,201,000 after purchasing an additional 240,808 shares during the last quarter. Royce & Associates LP grew its stake in Herc Holdings by 63.7% in the second quarter. Royce & Associates LP now owns 402,268 shares of the transportation company’s stock valued at $15,817,000 after purchasing an additional 156,470 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Herc Holdings by 51.7% in the first quarter. AQR Capital Management LLC now owns 394,989 shares of the transportation company’s stock valued at $19,311,000 after purchasing an additional 134,683 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.
Several equities analysts have issued reports on the company. ValuEngine upgraded Herc Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Herc Holdings from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, October 4th. Finally, MKM Partners reiterated a “buy” rating and issued a $22.00 target price on shares of Herc Holdings in a research note on Friday, July 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.71.
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In other Herc Holdings news, COO James Bruce Dressel acquired 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $39.02 per share, for a total transaction of $97,550.00. Following the acquisition, the chief operating officer now owns 41,402 shares in the company, valued at approximately $1,615,506.04. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn acquired 109,249 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $38.95 per share, for a total transaction of $4,255,248.55. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.
Shares of Herc Holdings Inc. (NYSE HRI) opened at 48.81 on Thursday. The stock’s 50 day moving average price is $47.27 and its 200-day moving average price is $43.26. The stock’s market cap is $1.38 billion. Herc Holdings Inc. has a 52 week low of $28.66 and a 52 week high of $52.96.
Herc Holdings (NYSE:HRI) last released its quarterly earnings data on Tuesday, August 8th. The transportation company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.25. Herc Holdings had a negative return on equity of 9.52% and a negative net margin of 4.82%. The business had revenue of $416.00 million for the quarter, compared to the consensus estimate of $397.00 million. During the same quarter in the prior year, the business posted ($0.28) EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that Herc Holdings Inc. will post ($2.14) earnings per share for the current fiscal year.
About Herc Holdings
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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