Herc Holdings Inc. (NYSE:HRI) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP reduced its position in Herc Holdings Inc. (NYSE:HRI) by 44.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,988 shares of the transportation company’s stock after selling 4,724 shares during the period. ARGA Investment Management LP’s holdings in Herc were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Herc by 213.3% in the 4th quarter. Signaturefd LLC now owns 235 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 160 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Herc by 576.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 311 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 265 shares during the period. CWM LLC lifted its stake in shares of Herc by 45.3% in the 4th quarter. CWM LLC now owns 359 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 112 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Herc in the 4th quarter valued at $108,000. Finally, Massmutual Trust Co. FSB ADV acquired a new position in shares of Herc in the 1st quarter valued at $227,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Herc in a report on Friday, June 7th. They issued a “neutral” rating and a $155.00 price target for the company. StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Herc from $155.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $153.00.

Insider Buying and Selling at Herc

In other Herc news, CEO Lawrence Harris Silber sold 20,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $158.81, for a total value of $3,176,200.00. Following the transaction, the chief executive officer now owns 213,382 shares of the company’s stock, valued at $33,887,195.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Christian J. Cunningham sold 6,607 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $155.37, for a total transaction of $1,026,529.59. Following the sale, the senior vice president now owns 60,029 shares of the company’s stock, valued at $9,326,705.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lawrence Harris Silber sold 20,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the sale, the chief executive officer now directly owns 213,382 shares in the company, valued at approximately $33,887,195.42. The disclosure for this sale can be found here. Insiders have sold 32,451 shares of company stock valued at $5,092,946 over the last 90 days. 1.80% of the stock is owned by insiders.

Herc Price Performance

Shares of Herc stock traded down $1.76 during trading hours on Wednesday, reaching $131.33. 21,752 shares of the company’s stock were exchanged, compared to its average volume of 211,650. Herc Holdings Inc. has a 1 year low of $100.17 and a 1 year high of $171.00. The company has a market capitalization of $3.73 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 0.67 and a beta of 2.17. The business has a fifty day moving average of $144.69 and a two-hundred day moving average of $149.72. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.95.

Herc (NYSE:HRI) last released its earnings results on Tuesday, April 23rd. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.12). Herc had a return on equity of 28.68% and a net margin of 10.31%. The business had revenue of $804.00 million for the quarter. As a group, research analysts predict that Herc Holdings Inc. will post 14.1 earnings per share for the current fiscal year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $2.66 dividend on an annualized basis and a yield of 2.03%. Herc’s payout ratio is currently 21.97%.

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.