Corebridge Financial Inc. Decreases Holdings in Herc Holdings Inc. (NYSE:HRI)

Corebridge Financial Inc. lowered its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 7.0% in the fourth quarter, Holdings Channel reports. The firm owned 13,994 shares of the transportation company’s stock after selling 1,056 shares during the period. Corebridge Financial Inc.’s holdings in Herc were worth $2,649,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Artemis Investment Management LLP purchased a new stake in Herc during the 4th quarter worth approximately $71,211,000. Hennessy Advisors Inc. purchased a new stake in shares of Herc during the fourth quarter worth approximately $62,982,000. Allianz Asset Management GmbH raised its stake in Herc by 578.8% in the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company’s stock valued at $43,760,000 after purchasing an additional 197,082 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Herc by 117.3% in the 3rd quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company’s stock valued at $19,739,000 after purchasing an additional 62,883 shares in the last quarter. Finally, FMR LLC boosted its stake in Herc by 8.3% during the 3rd quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock worth $117,470,000 after purchasing an additional 56,191 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HRI shares. Citigroup began coverage on shares of Herc in a research note on Monday, March 24th. They issued a “buy” rating and a $165.00 price target on the stock. The Goldman Sachs Group decreased their target price on shares of Herc from $234.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.20.

Herc Price Performance

Herc stock opened at $134.60 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. The company has a 50-day moving average price of $166.41 and a 200 day moving average price of $184.32. Herc Holdings Inc. has a 12-month low of $119.60 and a 12-month high of $246.88. The stock has a market cap of $3.83 billion, a P/E ratio of 18.16, a PEG ratio of 1.61 and a beta of 2.14.

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

Herc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 18th. This is a boost from Herc’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. Herc’s dividend payout ratio is currently 37.79%.

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.