Herc Holdings Inc. $HRI Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 215.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,389 shares of the transportation company’s stock after acquiring an additional 4,361 shares during the quarter. State of Alaska Department of Revenue’s holdings in Herc were worth $796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Herc by 17.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company’s stock valued at $115,872,000 after acquiring an additional 170,189 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Herc by 13.4% during the first quarter. First Trust Advisors LP now owns 873,338 shares of the transportation company’s stock worth $86,941,000 after purchasing an additional 103,047 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Herc during the second quarter worth $86,054,000. Bank of America Corp DE grew its stake in shares of Herc by 147.8% in the first quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock worth $23,426,000 after purchasing an additional 140,355 shares during the last quarter. Finally, Cooper Creek Partners Management LLC bought a new stake in shares of Herc in the first quarter worth $21,866,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Stock Up 1.5%

Shares of NYSE HRI opened at $133.73 on Friday. The company has a market capitalization of $4.47 billion, a P/E ratio of 22.21 and a beta of 2.04. Herc Holdings Inc. has a 52-week low of $88.45 and a 52-week high of $188.35. The company has a debt-to-equity ratio of 4.22, a quick ratio of 1.10 and a current ratio of 1.10. The company’s 50 day moving average price is $140.63 and its 200-day moving average price is $139.23.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.67. Herc had a net margin of 1.01% and a return on equity of 10.33%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.87 earnings per share. Herc’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities analysts forecast that Herc Holdings Inc. will post 7.30 earnings per share for the current year.

Herc Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were issued a $0.70 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $2.80 annualized dividend and a yield of 2.1%. Herc’s payout ratio is presently 190.48%.

Wall Street Analysts Forecast Growth

HRI has been the subject of a number of recent research reports. Weiss Ratings upgraded Herc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. KeyCorp raised their target price on Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised Herc from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $165.00 to $175.00 in a report on Thursday, September 10th. BNP Paribas Exane increased their price target on Herc from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded Herc from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.86.

About Herc

Herc Holdings Inc, operating primarily through the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, commercial and government customers. The company provides access to equipment and related services intended to help customers complete projects without purchasing and maintaining their own fleets.

Its rental fleet includes aerial work platforms, earthmoving equipment, material-handling equipment, trucks and trailers, power generation and climate-control equipment, pumps, and general tools.