SageView Advisory Group LLC Invests $914,000 in Herc Holdings Inc. (NYSE:HRI)

SageView Advisory Group LLC bought a new position in Herc Holdings Inc. (NYSE:HRI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 6,000 shares of the transportation company’s stock, valued at approximately $914,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its position in Herc by 37.8% during the 3rd quarter. Invesco Ltd. now owns 1,667,255 shares of the transportation company’s stock valued at $198,303,000 after acquiring an additional 457,697 shares during the period. Norges Bank purchased a new position in Herc during the 4th quarter valued at about $43,505,000. Capital International Investors purchased a new position in Herc during the 4th quarter valued at about $30,457,000. Theleme Partners LLP lifted its position in Herc by 26.2% during the 4th quarter. Theleme Partners LLP now owns 817,891 shares of the transportation company’s stock valued at $121,776,000 after acquiring an additional 169,886 shares during the period. Finally, Electron Capital Partners LLC lifted its position in Herc by 22.6% during the 3rd quarter. Electron Capital Partners LLC now owns 585,029 shares of the transportation company’s stock valued at $69,583,000 after acquiring an additional 107,708 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Stock Up 1.8 %

NYSE:HRI opened at $130.66 on Tuesday. The firm has a 50-day simple moving average of $147.97 and a two-hundred day simple moving average of $149.33. Herc Holdings Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $171.00. The firm has a market cap of $3.71 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.65 and a beta of 2.18. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.51 and a current ratio of 1.51.

Herc (NYSE:HRI) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.12). Herc had a return on equity of 28.68% and a net margin of 10.31%. The company had revenue of $804.00 million during the quarter. Analysts predict that Herc Holdings Inc. will post 14.1 earnings per share for the current fiscal year.

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.04%. Herc’s dividend payout ratio is presently 21.97%.

Wall Street Analysts Forecast Growth

HRI has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Herc in a research note on Friday, June 7th. They set a “neutral” rating and a $155.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.00.

Insider Transactions at Herc

In other news, COO Aaron Birnbaum sold 5,844 shares of Herc stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $152.33, for a total value of $890,216.52. Following the completion of the sale, the chief operating officer now directly owns 48,232 shares in the company, valued at $7,347,180.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Aaron Birnbaum sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $152.33, for a total value of $890,216.52. Following the transaction, the chief operating officer now owns 48,232 shares of the company’s stock, valued at $7,347,180.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lawrence Harris Silber sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the completion of the transaction, the chief executive officer now directly owns 213,382 shares in the company, valued at approximately $33,887,195.42. The disclosure for this sale can be found here. Insiders sold 32,451 shares of company stock worth $5,092,946 over the last three months. 1.70% of the stock is currently owned by company insiders.

Herc 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.