Truist Financial Corp Sells 1,177 Shares of Herc Holdings Inc. (NYSE:HRI)

Truist Financial Corp lessened its stake in Herc Holdings Inc. (NYSE:HRI) by 9.2% in the second quarter, HoldingsChannel reports. The fund owned 11,657 shares of the transportation company’s stock after selling 1,177 shares during the period. Truist Financial Corp’s holdings in Herc were worth $1,554,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Herc by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock valued at $494,288,000 after acquiring an additional 38,798 shares during the period. Tidal Investments LLC purchased a new position in Herc during the 1st quarter valued at about $990,000. SG Americas Securities LLC raised its position in Herc by 226.4% during the 2nd quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock valued at $752,000 after purchasing an additional 3,914 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Herc by 232.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,618 shares of the transportation company’s stock worth $2,461,000 after buying an additional 10,217 shares during the period. Finally, Quest Partners LLC grew its position in shares of Herc by 15,137.8% in the 2nd quarter. Quest Partners LLC now owns 6,857 shares of the transportation company’s stock worth $914,000 after buying an additional 6,812 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HRI. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird reissued a “neutral” rating and issued a $155.00 price target on shares of Herc in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.50.

Herc Stock Performance

Shares of Herc stock opened at $166.10 on Friday. Herc Holdings Inc. has a 12 month low of $100.17 and a 12 month high of $171.00. The firm has a market capitalization of $4.72 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.00 and a beta of 2.07. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The business has a fifty day simple moving average of $145.27 and a two-hundred day simple moving average of $146.23.

Herc (NYSE:HRI) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). The business had revenue of $848.00 million for the quarter, compared to analysts’ expectations of $813.05 million. Herc had a net margin of 10.00% and a return on equity of 26.99%. On average, equities analysts forecast that Herc Holdings Inc. will post 13.68 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.66 annualized dividend and a dividend yield of 1.60%. Herc’s payout ratio is currently 21.97%.

Insider Activity at Herc

In other Herc news, SVP Tamir Peres sold 5,821 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total value of $925,713.63. Following the sale, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at approximately $5,632,047.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the completion of the transaction, the chief operating officer now directly owns 38,232 shares in the company, valued at $5,609,016.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tamir Peres sold 5,821 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total value of $925,713.63. Following the completion of the transaction, the senior vice president now directly owns 35,415 shares in the company, valued at $5,632,047.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Herc Company 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.