Herc (NYSE:HRI) Shares Up 6.2%

Herc Holdings Inc. (NYSE:HRI) shares were up 6.2% during mid-day trading on Tuesday . The company traded as high as $152.42 and last traded at $152.00. Approximately 148,325 shares changed hands during trading, a decline of 34% from the average daily volume of 223,843 shares. The stock had previously closed at $143.18.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HRI shares. StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird reiterated a “neutral” rating and set a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of Herc in a research note on Friday, June 7th. They set a “neutral” rating and a $155.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Herc has a consensus rating of “Hold” and a consensus price target of $159.50.

Herc Trading Up 3.7 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.91. The business’s 50 day moving average is $141.66 and its 200-day moving average is $146.45. The firm has a market cap of $4.46 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.82 and a beta of 2.07.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). The company had revenue of $848.00 million during the quarter, compared to the consensus estimate of $813.05 million. Herc had a return on equity of 26.99% and a net margin of 10.00%. As a group, analysts forecast that Herc Holdings Inc. will post 13.68 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.69%. Herc’s dividend payout ratio (DPR) is presently 21.97%.

Insider Buying and Selling

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the completion of the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at $5,609,016.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Herc news, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total value of $925,713.63. Following the completion of the transaction, the senior vice president now owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the transaction, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Herc

Several hedge funds and other institutional investors have recently modified their holdings of HRI. Norges Bank acquired a new position in shares of Herc during the fourth quarter valued at $43,505,000. Capital International Investors acquired a new position in shares of Herc during the fourth quarter valued at $30,457,000. Theleme Partners LLP lifted its holdings in Herc by 26.2% in the fourth quarter. Theleme Partners LLP now owns 817,891 shares of the transportation company’s stock worth $121,776,000 after purchasing an additional 169,886 shares during the period. Capital Research Global Investors lifted its holdings in Herc by 185.7% in the first quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock worth $28,720,000 after purchasing an additional 110,922 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Herc by 18.4% in the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock worth $74,908,000 after purchasing an additional 87,330 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Company 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.