Truist Financial Corp Sells 1,177 Shares of Herc Holdings Inc. (NYSE:HRI)

Truist Financial Corp reduced its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,657 shares of the transportation company’s stock after selling 1,177 shares during the quarter. Truist Financial Corp’s holdings in Herc were worth $1,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HRI. Capital Research Global Investors increased its stake in shares of Herc by 185.7% during the 1st 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 last quarter. American Century Companies Inc. lifted its position in shares of Herc by 18.4% during the 2nd 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 last quarter. Vanguard Group Inc. grew its stake in shares of Herc by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,898,147 shares of the transportation company’s stock worth $431,505,000 after acquiring an additional 60,715 shares during the period. First Sabrepoint Capital Management LP purchased a new stake in Herc in the 1st quarter worth about $8,667,000. Finally, Candriam S.C.A. purchased a new stake in Herc during the second quarter valued at about $4,556,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

HRI has been the topic of several research reports. StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird restated a “neutral” rating and set a $155.00 target price on shares of Herc in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Herc has an average rating of “Hold” and a consensus target price of $159.50.

Insider Transactions at Herc

In related news, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at $5,609,016.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Aaron Birnbaum sold 10,000 shares of the 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 $5,609,016.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction dated Wednesday, July 31st. The stock was 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Herc Price Performance

Shares of NYSE:HRI opened at $166.10 on Friday. 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 stock has a market cap of $4.72 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.00 and a beta of 2.07. The company has a 50 day moving average of $145.27 and a 200 day moving average of $146.23.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.34). The firm 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, sell-side analysts forecast that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.60%. Herc’s dividend payout ratio (DPR) is presently 21.97%.

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.