Bank of New York Mellon Corp Trims Holdings in Herc Holdings Inc. (NYSE:HRI)

Bank of New York Mellon Corp cut its stake in Herc Holdings Inc. (NYSE:HRI) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,143 shares of the transportation company’s stock after selling 22,409 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Herc worth $28,427,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Covestor Ltd grew its position in Herc by 70.4% during the third quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock worth $51,000 after buying an additional 133 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Herc by 369.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 270 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Herc in the 3rd quarter valued at about $80,000. KBC Group NV lifted its stake in shares of Herc by 20.1% in the 3rd quarter. KBC Group NV now owns 854 shares of the transportation company’s stock valued at $136,000 after acquiring an additional 143 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Herc by 564.0% in the 4th quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company’s stock valued at $140,000 after acquiring an additional 626 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.75.

Herc Stock Up 1.9 %

Shares of NYSE:HRI opened at $131.31 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $3.74 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.61 and a beta of 2.14. The stock has a 50 day moving average price of $184.91 and a 200-day moving average price of $184.69. Herc Holdings Inc. has a 52-week low of $124.70 and a 52-week high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. As a group, equities research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.13%. This is an increase from Herc’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, February 18th. Herc’s dividend payout ratio (DPR) is currently 37.79%.

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.