Aristeia Capital L.L.C. Takes $673,000 Position in Herc Holdings Inc. (NYSE:HRI)

Aristeia Capital L.L.C. bought a new position in Herc Holdings Inc. (NYSE:HRI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,051 shares of the transportation company’s stock, valued at approximately $673,000.

A number of other institutional investors have also added to or reduced their stakes in HRI. Principal Financial Group Inc. raised its stake in shares of Herc by 32.2% during the fourth quarter. Principal Financial Group Inc. now owns 22,755 shares of the transportation company’s stock worth $3,388,000 after acquiring an additional 5,544 shares in the last quarter. Norges Bank bought a new stake in Herc in the fourth quarter worth $43,505,000. UBS Group AG boosted its position in Herc by 110.6% during the fourth quarter. UBS Group AG now owns 43,605 shares of the transportation company’s stock valued at $6,492,000 after buying an additional 22,895 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Herc by 20.1% in the fourth quarter. Wells Fargo & Company MN now owns 84,185 shares of the transportation company’s stock worth $12,534,000 after buying an additional 14,069 shares during the period. Finally, Trexquant Investment LP purchased a new position in Herc in the 4th quarter worth approximately $538,000. Institutional investors own 93.11% of the company’s stock.

Herc Stock Up 0.6 %

Shares of Herc stock opened at $156.29 on Tuesday. The company’s fifty day simple moving average is $142.29 and its two-hundred day simple moving average is $146.07. 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 company has a market cap of $4.44 billion, a P/E ratio of 12.91, a PEG ratio of 0.82 and a beta of 2.07.

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

Herc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio (DPR) is presently 21.97%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Herc in a report on Friday, June 7th. They issued a “neutral” rating and a $155.00 target price on the stock. Robert W. Baird reissued a “neutral” rating and issued a $155.00 price target on shares of Herc in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.50.

Insider Transactions at Herc

In related news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the sale, the chief operating officer now owns 38,232 shares of the company’s stock, valued at $5,609,016.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Herc news, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the transaction, the senior vice president now owns 35,415 shares in the company, valued at $5,632,047.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the chief operating officer now directly owns 38,232 shares in the company, valued at $5,609,016.72. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.