Hennessy Advisors Inc. Has $35.95 Million Stake in Herc Holdings Inc. $HRI

Hennessy Advisors Inc. lowered its position in Herc Holdings Inc. (NYSE:HRI) by 9.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 272,959 shares of the transportation company’s stock after selling 30,100 shares during the period. Herc accounts for approximately 1.2% of Hennessy Advisors Inc.’s portfolio, making the stock its 19th largest position. Hennessy Advisors Inc.’s holdings in Herc were worth $35,946,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Herc during the 1st quarter valued at $11,259,000. D.A. Davidson & CO. lifted its position in shares of Herc by 9.6% during the 1st quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company’s stock valued at $5,270,000 after acquiring an additional 3,435 shares during the period. Strs Ohio acquired a new position in shares of Herc during the 1st quarter valued at $779,000. Intech Investment Management LLC lifted its position in shares of Herc by 42.2% during the 1st quarter. Intech Investment Management LLC now owns 16,738 shares of the transportation company’s stock valued at $2,247,000 after acquiring an additional 4,971 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Herc by 8.0% during the 1st quarter. Handelsbanken Fonder AB now owns 6,758 shares of the transportation company’s stock valued at $907,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Performance

NYSE HRI opened at $128.87 on Friday. Herc Holdings Inc. has a 1 year low of $96.18 and a 1 year high of $246.88. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 149.85, a PEG ratio of 1.45 and a beta of 1.81. The company has a fifty day moving average price of $124.93 and a 200-day moving average price of $126.06.

Herc (NYSE:HRI) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.58. Herc had a net margin of 0.61% and a return on equity of 20.77%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $868.23 million. As a group, equities research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.70 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. Herc’s dividend payout ratio is presently 325.58%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HRI. Citigroup dropped their target price on shares of Herc from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Baird R W upgraded shares of Herc from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Robert W. Baird set a $160.00 price target on shares of Herc and gave the company an “outperform” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a research note on Saturday, September 27th. Finally, Zacks Research upgraded shares of Herc from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.20.

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.