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

Summit Global Investments increased its holdings in Herc Holdings Inc. (NYSE:HRI) by 35.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,501 shares of the transportation company’s stock after purchasing an additional 2,500 shares during the quarter. Summit Global Investments’ holdings in Herc were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in HRI. Signaturefd LLC raised its position in Herc by 213.3% in the 4th quarter. Signaturefd LLC now owns 235 shares of the transportation company’s stock worth $35,000 after purchasing an additional 160 shares during the period. Hexagon Capital Partners LLC raised its position in Herc by 576.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 311 shares of the transportation company’s stock worth $46,000 after purchasing an additional 265 shares during the period. CWM LLC raised its position in Herc by 45.3% in the 4th quarter. CWM LLC now owns 359 shares of the transportation company’s stock worth $53,000 after purchasing an additional 112 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Herc in the 4th quarter worth $108,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Herc in the 3rd quarter worth $173,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Trading Down 1.1 %

Shares of HRI traded down $1.66 during trading hours on Friday, reaching $146.90. 209,430 shares of the company traded hands, compared to its average volume of 244,438. The company’s fifty day moving average price is $158.91 and its two-hundred day moving average price is $142.85. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.95. Herc Holdings Inc. has a 12 month low of $93.97 and a 12 month high of $171.00.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.05). The company had revenue of $831.00 million for the quarter, compared to the consensus estimate of $858.06 million. Herc had a net margin of 10.31% and a return on equity of 28.68%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.44 EPS. Equities research analysts predict that Herc Holdings Inc. will post 14.59 earnings per share for the current fiscal year.

Herc Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.665 per share. This is a positive change from Herc’s previous quarterly dividend of $0.63. The ex-dividend date was Tuesday, February 20th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.81%. Herc’s payout ratio is presently 21.97%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Herc from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird boosted their price objective on shares of Herc from $117.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Herc currently has an average rating of “Hold” and an average price target of $152.50.

Insider Buying and Selling

In related news, COO Aaron Birnbaum sold 5,844 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $152.33, for a total transaction of $890,216.52. Following the sale, the chief operating officer now owns 48,232 shares of the company’s stock, valued at $7,347,180.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Tamir Peres sold 3,545 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $159.10, for a total transaction of $564,009.50. Following the sale, the senior vice president now owns 41,236 shares of the company’s stock, valued at $6,560,647.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aaron Birnbaum sold 5,844 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $152.33, for a total transaction of $890,216.52. Following the sale, the chief operating officer now directly owns 48,232 shares in the company, valued at approximately $7,347,180.56. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Herc 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.