Electron Capital Partners LLC Reduces Holdings in Herc Holdings Inc. (NYSE:HRI)

Electron Capital Partners LLC cut its stake in Herc Holdings Inc. (NYSE:HRI) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 374,120 shares of the transportation company’s stock after selling 93,011 shares during the quarter. Herc comprises about 1.1% of Electron Capital Partners LLC’s holdings, making the stock its 17th largest position. Electron Capital Partners LLC owned 1.32% of Herc worth $49,866,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of HRI. Headlands Technologies LLC purchased a new position in shares of Herc during the first quarter worth approximately $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of Herc by 650.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after acquiring an additional 208 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Herc by 303.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,551 shares of the transportation company’s stock valued at $207,000 after purchasing an additional 1,167 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Herc during the first quarter worth about $227,000. Finally, Qsemble Capital Management LP bought a new stake in Herc in the 1st quarter valued at $242,000. 93.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at $5,609,016.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the sale, the chief operating officer now directly owns 38,232 shares in the company, valued at $5,609,016.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tamir Peres sold 5,821 shares of Herc 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 transaction, the senior vice president now owns 35,415 shares in the company, valued at approximately $5,632,047.45. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Herc Trading Down 0.8 %

NYSE HRI opened at $157.15 on Thursday. Herc Holdings Inc. has a one year low of $100.17 and a one year high of $171.00. The firm has a 50 day simple moving average of $142.52 and a 200-day simple moving average of $146.16. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.95 and a beta of 2.07.

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). Herc had a net margin of 10.00% and a return on equity of 26.99%. The firm had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $813.05 million. Equities research analysts anticipate that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.69%. Herc’s payout ratio is 21.97%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird reissued a “neutral” rating and set a $155.00 target price on shares of Herc in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Herc in a research note on Friday, June 7th. They set a “neutral” rating and a $155.00 price target on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $159.50.

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.