JPMorgan Chase & Co. Increases Stake in Herc Holdings Inc. (NYSE:HRI)

JPMorgan Chase & Co. boosted its holdings in Herc Holdings Inc. (NYSE:HRI) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,724 shares of the transportation company’s stock after purchasing an additional 11,945 shares during the period. JPMorgan Chase & Co.’s holdings in Herc were worth $16,537,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of Herc by 8.3% during the third quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock valued at $117,470,000 after buying an additional 56,191 shares during the period. State Street Corp boosted its position in shares of Herc by 0.5% during the third quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock valued at $106,165,000 after purchasing an additional 3,006 shares in the last quarter. Geode Capital Management LLC grew its stake in Herc by 1.1% in the third quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company’s stock worth $101,589,000 after purchasing an additional 6,874 shares during the period. American Century Companies Inc. lifted its position in Herc by 18.4% during the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock valued at $74,908,000 after buying an additional 87,330 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Herc by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company’s stock valued at $63,011,000 after buying an additional 23,411 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Herc Stock Performance

NYSE HRI opened at $178.43 on Friday. The business has a 50-day moving average price of $209.01 and a 200-day moving average price of $171.42. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc Holdings Inc. has a twelve month low of $124.70 and a twelve month high of $246.88. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.19 and a beta of 2.06.

Herc (NYSE:HRI) last released its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.13). The company had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $931.33 million. Herc had a return on equity of 26.35% and a net margin of 10.09%. Herc’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $4.00 EPS. As a group, equities research analysts predict that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.665 per share. The ex-dividend date was Monday, December 16th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.49%. Herc’s payout ratio is 21.75%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $219.75.

Insider Buying and Selling

In related news, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the transaction, the director now directly owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. The trade was a 21.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Samuel Wade Sheek sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the transaction, the senior vice president now directly owns 21,586 shares in the company, valued at approximately $4,600,408.32. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

About Herc

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.