Victory Capital Management Inc. Grows Stake in Herc Holdings Inc. (NYSE:HRI)

Victory Capital Management Inc. increased its stake in Herc Holdings Inc. (NYSE:HRI) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,818 shares of the transportation company’s stock after acquiring an additional 284 shares during the period. Victory Capital Management Inc.’s holdings in Herc were worth $928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Herc by 650.0% in the first quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after acquiring an additional 208 shares in the last quarter. Signaturefd LLC boosted its position in shares of Herc by 27.7% during the third quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock valued at $45,000 after buying an additional 61 shares during the period. Covestor Ltd boosted its position in shares of Herc by 70.4% during the third quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock valued at $51,000 after buying an additional 133 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Herc by 369.9% during the third quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after buying an additional 270 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Herc by 704.2% during the third quarter. GAMMA Investing LLC now owns 386 shares of the transportation company’s stock valued at $62,000 after buying an additional 338 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HRI shares. Barclays boosted their target price on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $212.25.

Herc Stock Down 0.5 %

Shares of NYSE HRI opened at $229.84 on Thursday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.31 and a beta of 2.02. The stock has a 50 day moving average price of $192.61 and a 200 day moving average price of $158.32. Herc Holdings Inc. has a 52-week low of $119.08 and a 52-week high of $246.88.

Herc (NYSE:HRI) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). The firm had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $931.33 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.00 EPS. Sell-side analysts expect that Herc Holdings Inc. will post 13.59 earnings per share for the current year.

Insider Activity at Herc

In related news, Director Michael A. Kelly sold 3,880 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total value of $810,260.40. Following the completion of the transaction, the director now owns 13,774 shares of the company’s stock, valued at $2,876,424.42. The trade was a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the completion of the transaction, the senior vice president now directly owns 21,586 shares of the company’s stock, valued at $4,600,408.32. This trade represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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.