Herc Holdings Inc. (NYSE:HRI) is Dorsey Asset Management LLC’s 9th Largest Position

Dorsey Asset Management LLC lowered its position in Herc Holdings Inc. (NYSE:HRI) by 1.3% in the second quarter, HoldingsChannel reports. The fund owned 439,118 shares of the transportation company’s stock after selling 5,651 shares during the quarter. Herc accounts for about 7.0% of Dorsey Asset Management LLC’s portfolio, making the stock its 9th largest position. Dorsey Asset Management LLC’s holdings in Herc were worth $58,530,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Herc in the 4th quarter worth about $43,505,000. Capital International Investors purchased a new position in shares of Herc during the 4th quarter valued at approximately $30,457,000. Theleme Partners LLP grew its stake in Herc by 26.2% in 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. Capital Research Global Investors increased its holdings in Herc by 185.7% in the 1st quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock worth $28,720,000 after acquiring an additional 110,922 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Herc by 18.4% during the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock valued at $74,908,000 after purchasing an additional 87,330 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Herc Stock Performance

HRI opened at $157.15 on Thursday. The firm has a market capitalization of $4.46 billion, a PE ratio of 12.98, a PEG ratio of 0.95 and a beta of 2.07. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. Herc Holdings Inc. has a twelve month low of $100.17 and a twelve month high of $171.00. The firm’s 50-day moving average price is $142.52 and its 200 day moving average price is $146.16.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a net margin of 10.00% and a return on equity of 26.99%. The company had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $813.05 million. As a group, sell-side analysts expect that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio (DPR) is presently 21.97%.

Insider Transactions at Herc

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Herc in a research report on Friday, June 7th. They set a “neutral” rating and a $155.00 price target for the company. Robert W. Baird reissued a “neutral” rating and set a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.50.

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.