Townsquare Capital LLC Acquires Shares of 2,305 Herc Holdings Inc. (NYSE:HRI)

Townsquare Capital LLC bought a new position in shares of Herc Holdings Inc. (NYSE:HRI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,305 shares of the transportation company’s stock, valued at approximately $367,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Herc by 27.7% in the 3rd quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock worth $45,000 after acquiring an additional 61 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Herc by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,995 shares of the transportation company’s stock worth $1,275,000 after acquiring an additional 65 shares during the period. MQS Management LLC lifted its position in Herc by 3.8% in the 3rd quarter. MQS Management LLC now owns 1,945 shares of the transportation company’s stock valued at $310,000 after purchasing an additional 71 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Herc by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 5,147 shares of the transportation company’s stock valued at $686,000 after buying an additional 108 shares during the last quarter. Finally, Welch Group LLC raised its stake in shares of Herc by 1.9% during the third quarter. Welch Group LLC now owns 6,200 shares of the transportation company’s stock valued at $988,000 after purchasing an additional 118 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Herc

In related news, SVP Samuel Wade Sheek sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total value of $1,065,600.00. Following the sale, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael A. Kelly sold 3,880 shares of the company’s stock in a transaction 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 sale, the director now directly owns 13,774 shares in the company, valued at $2,876,424.42. This trade represents a 21.98 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HRI. Barclays upped their price objective on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of Herc from $178.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $212.25.

Herc Price Performance

NYSE HRI opened at $228.62 on Friday. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.31 and a beta of 2.02. Herc Holdings Inc. has a 52-week low of $119.98 and a 52-week high of $246.88. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. The business has a 50 day simple moving average of $201.36 and a 200 day simple moving average of $161.34.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). The company had revenue of $965.00 million during 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%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.00 earnings per share. Analysts anticipate that Herc Holdings Inc. will post 13.59 earnings per share 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.