Allspring Global Investments Holdings LLC Cuts Position in Herc Holdings Inc. (NYSE:HRI)

Allspring Global Investments Holdings LLC lessened its stake in Herc Holdings Inc. (NYSE:HRI) by 89.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 167 shares of the transportation company’s stock after selling 1,384 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Herc were worth $27,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Herc by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock valued at $494,288,000 after acquiring an additional 38,798 shares in the last quarter. Tidal Investments LLC purchased a new position in Herc during the 1st quarter valued at about $990,000. SG Americas Securities LLC increased its holdings in Herc by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock valued at $752,000 after acquiring an additional 3,914 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Herc by 232.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company’s stock valued at $2,461,000 after acquiring an additional 10,217 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Herc by 15,137.8% during the second quarter. Quest Partners LLC now owns 6,857 shares of the transportation company’s stock worth $914,000 after buying an additional 6,812 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Trading Up 3.9 %

HRI opened at $215.11 on Wednesday. The stock has a market capitalization of $6.11 billion, a PE ratio of 17.59, a P/E/G ratio of 1.21 and a beta of 2.02. The firm’s fifty day moving average price is $165.58 and its 200 day moving average price is $150.03. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. Herc Holdings Inc. has a 12-month low of $114.54 and a 12-month high of $215.34.

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

Herc Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 1.24%. Herc’s dividend payout ratio is presently 21.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HRI shares. JPMorgan Chase & Co. lifted their price target on shares of Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their price target on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Robert W. Baird reiterated a “neutral” rating and set 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 report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Herc presently has a consensus rating of “Hold” and a consensus target price of $212.25.

Insider Activity at Herc

In related news, COO Aaron Birnbaum sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 38,232 shares in the company, valued at $5,609,016.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Aaron Birnbaum sold 10,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 38,232 shares in the company, valued at approximately $5,609,016.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Samuel Wade Sheek sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the transaction, the senior vice president now owns 21,586 shares of the company’s stock, valued at approximately $4,600,408.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,880 shares of company stock worth $3,342,960 in the last 90 days. Corporate insiders own 1.70% 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.