Herc Holdings Inc. (NYSE:HRI) Stake Cut by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 25.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,789 shares of the transportation company’s stock after selling 1,293 shares during the quarter. ProShare Advisors LLC’s holdings in Herc were worth $505,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HRI. Wells Fargo & Company MN grew its position in Herc by 20.1% during the fourth quarter. Wells Fargo & Company MN now owns 84,185 shares of the transportation company’s stock valued at $12,534,000 after purchasing an additional 14,069 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 38,798 shares during the period. Electron Capital Partners LLC grew its holdings in shares of Herc by 3.5% during the 4th quarter. Electron Capital Partners LLC now owns 605,387 shares of the transportation company’s stock valued at $90,136,000 after acquiring an additional 20,358 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Herc in the first quarter worth $990,000. Finally, SG Americas Securities LLC raised its holdings in shares of Herc by 226.4% during the second quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock worth $752,000 after acquiring an additional 3,914 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Price Performance

Shares of NYSE:HRI opened at $159.49 on Tuesday. The stock has a market capitalization of $4.53 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.95 and a beta of 2.07. The business has a 50-day moving average of $142.98 and a two-hundred day moving average of $146.10. Herc Holdings Inc. has a fifty-two week low of $100.17 and a fifty-two week high of $171.00. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.23 and a quick ratio of 1.23.

Herc (NYSE:HRI) last posted 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 company had revenue of $848.00 million during 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%. On average, equities research analysts predict that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio is currently 21.97%.

Analyst Ratings Changes

A number of research analysts have commented on HRI shares. JPMorgan Chase & Co. initiated coverage on Herc in a research note on Friday, June 7th. They issued a “neutral” rating and a $155.00 target price on the stock. Robert W. Baird restated a “neutral” rating and issued a $155.00 price objective on shares of Herc in a report on Tuesday, July 23rd. Finally, StockNews.com cut shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $159.50.

Insider Activity at Herc

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