Edgestream Partners L.P. Makes New Investment in Herc Holdings Inc. (NYSE:HRI)

Edgestream Partners L.P. acquired a new stake in shares of Herc Holdings Inc. (NYSE:HRI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,332 shares of the transportation company’s stock, valued at approximately $2,577,000. Edgestream Partners L.P. owned 0.07% of Herc at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HRI. Principal Financial Group Inc. boosted its holdings in Herc by 32.2% in the fourth quarter. Principal Financial Group Inc. now owns 22,755 shares of the transportation company’s stock valued at $3,388,000 after purchasing an additional 5,544 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Herc by 17.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,371 shares of the transportation company’s stock valued at $502,000 after buying an additional 496 shares during the period. Norges Bank purchased a new stake in shares of Herc in the fourth quarter worth about $43,505,000. UBS Group AG grew its holdings in Herc by 110.6% during the fourth quarter. UBS Group AG now owns 43,605 shares of the transportation company’s stock worth $6,492,000 after acquiring an additional 22,895 shares during the period. Finally, Wells Fargo & Company MN raised its position in Herc by 20.1% during the fourth quarter. Wells Fargo & Company MN now owns 84,185 shares of the transportation company’s stock valued at $12,534,000 after acquiring an additional 14,069 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Aaron Birnbaum sold 10,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.71, for a total value of $1,467,100.00. Following the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Tamir Peres sold 5,821 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at approximately $5,632,047.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction that occurred 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 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. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HRI. JPMorgan Chase & Co. began 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $155.00 price objective on shares of Herc in a report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $159.50.

Herc Trading Down 0.7 %

HRI stock opened at $151.56 on Thursday. Herc Holdings Inc. has a 12-month low of $100.17 and a 12-month high of $171.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The business’s 50-day moving average is $141.18 and its 200 day moving average is $146.38. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.82 and a beta of 2.07.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a return on equity of 26.99% and a net margin of 10.00%. The firm had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $813.05 million. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, August 22nd. Herc’s dividend payout ratio is presently 21.97%.

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.