Covestor Ltd Acquires 133 Shares of Herc Holdings Inc. (NYSE:HRI)

Covestor Ltd boosted its stake in Herc Holdings Inc. (NYSE:HRI) by 70.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 322 shares of the transportation company’s stock after purchasing an additional 133 shares during the quarter. Covestor Ltd’s holdings in Herc were worth $51,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Herc by 185.7% during the 1st quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock valued at $28,720,000 after purchasing an additional 110,922 shares in the last quarter. American Century Companies Inc. boosted its position in Herc by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock valued at $74,908,000 after acquiring an additional 87,330 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of Herc by 145.7% during the 3rd quarter. Ceredex Value Advisors LLC now owns 91,725 shares of the transportation company’s stock worth $14,624,000 after acquiring an additional 54,400 shares during the period. First Sabrepoint Capital Management LP purchased a new position in shares of Herc in the 1st quarter valued at approximately $8,667,000. Finally, Vanguard Group Inc. lifted its stake in shares of Herc by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock valued at $494,288,000 after purchasing an additional 38,798 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Herc

In other news, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total transaction of $1,065,600.00. Following the completion of the transaction, the senior vice president now directly owns 21,586 shares of the company’s stock, valued at $4,600,408.32. The trade was a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Kelly sold 3,880 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the transaction, the director now owns 13,774 shares in the company, valued at approximately $2,876,424.42. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,880 shares of company stock worth $3,342,960 over the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on HRI. JPMorgan Chase & Co. increased their price objective on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on shares of Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird reissued a “neutral” rating and set a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. Finally, Barclays raised their target price on shares of Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $212.25.

Herc Stock Performance

Shares of HRI stock opened at $217.45 on Friday. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.29 and a beta of 2.02. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. Herc Holdings Inc. has a one year low of $119.08 and a one year high of $246.88. The company’s 50-day moving average is $176.13 and its 200 day moving average is $153.31.

Herc (NYSE:HRI) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.13). The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $931.33 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. Herc’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $4.00 EPS. Sell-side analysts expect that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

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.