Phocas Financial Corp. Sells 39,185 Shares of Herc Holdings Inc. (NYSE:HRI)

Phocas Financial Corp. decreased its position in Herc Holdings Inc. (NYSE:HRI) by 85.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,912 shares of the transportation company’s stock after selling 39,185 shares during the period. Herc makes up 1.0% of Phocas Financial Corp.’s portfolio, making the stock its 28th largest position. Phocas Financial Corp.’s holdings in Herc were worth $1,309,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Artemis Investment Management LLP acquired a new position in Herc during the fourth quarter valued at approximately $71,211,000. Hennessy Advisors Inc. acquired a new stake in Herc in the 4th quarter worth about $62,982,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Herc during the third quarter worth approximately $35,996,000. Allianz Asset Management GmbH lifted its position in Herc by 578.8% during the fourth quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company’s stock worth $43,760,000 after purchasing an additional 197,082 shares during the period. Finally, Franklin Resources Inc. increased its stake in Herc by 117.3% in the third quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company’s stock valued at $19,739,000 after acquiring an additional 62,883 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Herc Trading Down 3.7 %

Shares of Herc stock opened at $147.24 on Wednesday. The firm has a market cap of $4.19 billion, a PE ratio of 19.87, a PEG ratio of 1.61 and a beta of 2.04. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. Herc Holdings Inc. has a 1 year low of $124.70 and a 1 year high of $246.88. The company has a 50 day simple moving average of $193.20 and a two-hundred day simple moving average of $184.89.

Herc (NYSE:HRI) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Analysts expect that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.70 per share. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.90%. Herc’s payout ratio is presently 37.79%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their target price on Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.75.

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.