Fisher Asset Management LLC Trims Stock Position in Herc Holdings Inc. (NYSE:HRI)

Fisher Asset Management LLC cut its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 418,063 shares of the transportation company’s stock after selling 115,220 shares during the quarter. Fisher Asset Management LLC owned approximately 1.48% of Herc worth $62,245,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in Herc by 213.3% during the fourth quarter. Signaturefd LLC now owns 235 shares of the transportation company’s stock valued at $35,000 after buying an additional 160 shares during the period. Hexagon Capital Partners LLC increased its holdings in Herc by 576.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 311 shares of the transportation company’s stock valued at $46,000 after buying an additional 265 shares during the period. CWM LLC increased its holdings in Herc by 45.3% during the fourth quarter. CWM LLC now owns 359 shares of the transportation company’s stock valued at $53,000 after buying an additional 112 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Herc during the fourth quarter valued at approximately $108,000. Finally, Legato Capital Management LLC purchased a new position in Herc during the fourth quarter valued at approximately $202,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HRI shares. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. The Goldman Sachs Group raised their target price on shares of Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. started coverage on shares of Herc in a research note on Friday, June 7th. They issued a “neutral” rating and a $155.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Herc has a consensus rating of “Hold” and a consensus target price of $153.00.

Insider Transactions at Herc

In other news, CEO Lawrence Harris Silber sold 20,000 shares of Herc stock in a transaction on Monday, May 13th. The shares were sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the completion of the sale, the chief executive officer now directly owns 213,382 shares in the company, valued at $33,887,195.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Aaron Birnbaum sold 5,844 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $152.33, for a total transaction of $890,216.52. Following the completion of the transaction, the chief operating officer now directly owns 48,232 shares in the company, valued at $7,347,180.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Harris Silber sold 20,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the transaction, the chief executive officer now owns 213,382 shares of the company’s stock, valued at $33,887,195.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,451 shares of company stock worth $5,092,946. Company insiders own 1.70% of the company’s stock.

Herc Trading Down 3.2 %

NYSE:HRI opened at $128.30 on Monday. Herc Holdings Inc. has a 12 month low of $100.17 and a 12 month high of $171.00. The firm has a fifty day simple moving average of $148.67 and a 200-day simple moving average of $149.28. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $3.64 billion, a P/E ratio of 10.59, a PEG ratio of 0.65 and a beta of 2.18.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.12). Herc had a return on equity of 28.68% and a net margin of 10.31%. The company had revenue of $804.00 million for the quarter. On average, equities research analysts anticipate that Herc Holdings Inc. will post 14.1 earnings per share for the current year.

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.66 annualized dividend and a dividend yield of 2.07%. Herc’s payout ratio is currently 21.97%.

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.