Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,366 Shares of Herc Holdings Inc. (NYSE:HRI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Herc Holdings Inc. (NYSE:HRI) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,278 shares of the transportation company’s stock after buying an additional 1,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Herc were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ruffer LLP purchased a new position in shares of Herc during the fourth quarter valued at $3,665,000. PNC Financial Services Group Inc. increased its stake in shares of Herc by 54.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock valued at $70,000 after buying an additional 130 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Herc during the fourth quarter valued at $2,926,000. Arizona State Retirement System increased its stake in shares of Herc by 0.9% during the fourth quarter. Arizona State Retirement System now owns 7,829 shares of the transportation company’s stock valued at $1,482,000 after buying an additional 68 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Herc during the fourth quarter valued at $5,377,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Price Performance

HRI opened at $128.00 on Wednesday. The business’s 50-day moving average is $176.39 and its two-hundred day moving average is $184.18. Herc Holdings Inc. has a 1 year low of $119.60 and a 1 year high of $246.88. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $3.64 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14.

Herc (NYSE:HRI) last posted its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a net margin of 5.91% and a return on equity of 26.48%. The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date was Tuesday, February 18th. This is an increase from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio (DPR) is currently 37.79%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on Herc from $204.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $219.75.

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.