Herc Holdings Inc. $HRI Shares Purchased by IFP Advisors Inc

IFP Advisors Inc lifted its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 42.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,353 shares of the transportation company’s stock after purchasing an additional 5,142 shares during the period. IFP Advisors Inc’s holdings in Herc were worth $2,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Herc by 342.1% during the fourth quarter. Hantz Financial Services Inc. now owns 168 shares of the transportation company’s stock worth $25,000 after buying an additional 130 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Herc in the third quarter valued at $35,000. Smartleaf Asset Management LLC lifted its stake in Herc by 50.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 332 shares of the transportation company’s stock worth $51,000 after acquiring an additional 111 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Herc during the 3rd quarter valued at about $40,000. Finally, Covestor Ltd boosted its holdings in Herc by 78.1% during the 4th quarter. Covestor Ltd now owns 358 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Performance

HRI stock opened at $141.02 on Friday. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The company has a market capitalization of $4.71 billion, a P/E ratio of 95.93, a PEG ratio of 19.72 and a beta of 1.86. The company has a 50-day simple moving average of $153.90 and a 200 day simple moving average of $135.87. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.22.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.67. Herc had a net margin of 1.01% and a return on equity of 10.33%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $1.87 EPS. The company’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts predict that Herc Holdings Inc. will post 6.93 earnings per share for the current fiscal year.

Herc Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. Herc’s payout ratio is 190.48%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Herc from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $165.00 to $175.00 in a report on Thursday. KeyCorp raised their price target on Herc from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company upped their target price on Herc from $176.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Weiss Ratings raised shares of Herc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Herc presently has a consensus rating of “Moderate Buy” and an average price target of $184.43.

Herc Profile

Herc Holdings Inc, operating under the Herc Rentals brand, is an equipment rental supplier serving construction, industrial, government, commercial, and other customers. The company provides short- and long-term rentals of equipment used for construction, maintenance, infrastructure, remediation, and event-related projects.

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