Cannon Global Investment Management LLC Has $284,000 Stake in Herc Holdings Inc. (NYSE:HRI)

Cannon Global Investment Management LLC trimmed its stake in Herc Holdings Inc. (NYSE:HRI) by 51.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,500 shares of the transportation company’s stock after selling 1,600 shares during the quarter. Cannon Global Investment Management LLC’s holdings in Herc were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Herc by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 3,066,892 shares of the transportation company’s stock worth $580,655,000 after purchasing an additional 27,578 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Herc by 0.8% in the 4th quarter. American Century Companies Inc. now owns 812,270 shares of the transportation company’s stock worth $153,787,000 after acquiring an additional 6,777 shares in the last quarter. FMR LLC grew its position in Herc by 8.3% during the 3rd quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock worth $117,470,000 after acquiring an additional 56,191 shares during the last quarter. State Street Corp raised its position in Herc by 0.5% in the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC boosted 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 in the last quarter. 93.11% of the stock is owned by institutional investors.

Herc Trading Up 0.4 %

HRI stock opened at $135.60 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a twelve month low of $119.60 and a twelve month high of $246.88. The company has a market cap of $3.86 billion, a P/E ratio of 18.30, a PEG ratio of 1.61 and a beta of 2.14. The business has a fifty day moving average of $173.62 and a 200-day moving average of $184.06.

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

Herc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.70 per share. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.06%. Herc’s payout ratio is presently 37.79%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut their price target on Herc from $234.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Herc currently has an average rating of “Hold” and a consensus target price of $211.50.

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.