Herc Holdings Inc. (NYSE:HRI) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its position in Herc Holdings Inc. (NYSE:HRI) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,543 shares of the transportation company’s stock after selling 226 shares during the period. Arizona State Retirement System’s holdings in Herc were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Herc in the first quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in Herc by 650.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after buying an additional 208 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Herc in the 1st quarter valued at $227,000. Qsemble Capital Management LP acquired a new stake in shares of Herc in the first quarter worth $242,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Herc by 303.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,551 shares of the transportation company’s stock worth $207,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analysts Set New Price Targets

HRI has been the topic of several analyst reports. StockNews.com downgraded Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. began coverage on Herc in a research report on Friday, June 7th. They set a “neutral” rating and a $155.00 price target for the company. Finally, Robert W. Baird restated a “neutral” rating and issued a $155.00 price objective on shares of Herc in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.50.

Insider Buying and Selling

In related news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction dated 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 sale, the chief operating officer now directly owns 38,232 shares in the company, valued at approximately $5,609,016.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Tamir Peres sold 5,821 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total value of $925,713.63. Following the transaction, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the transaction, the chief operating officer now 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.

Herc Price Performance

Shares of Herc stock opened at $138.77 on Friday. The firm has a market cap of $3.94 billion, a PE ratio of 11.46, a P/E/G ratio of 0.82 and a beta of 2.07. Herc Holdings Inc. has a twelve month low of $100.17 and a twelve month high of $171.00. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.91. The business has a 50-day moving average price of $139.85 and a 200 day moving average price of $146.63.

Herc (NYSE:HRI) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.94 by ($0.34). The business had revenue of $848.00 million for the quarter, compared to analyst estimates of $813.05 million. Herc had a return on equity of 26.99% and a net margin of 10.00%. Sell-side analysts predict that Herc Holdings Inc. will post 13.68 earnings per share for the current fiscal year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.92%. Herc’s dividend payout ratio is currently 21.97%.

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.