CenterBook Partners LP Buys Shares of 2,863 Herc Holdings Inc. (NYSE:HRI)

CenterBook Partners LP purchased a new position in Herc Holdings Inc. (NYSE:HRI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,863 shares of the transportation company’s stock, valued at approximately $542,000.

A number of other large investors also recently modified their holdings of HRI. Argent Capital Management LLC lifted its stake in Herc by 38.2% in the 4th quarter. Argent Capital Management LLC now owns 6,907 shares of the transportation company’s stock worth $1,308,000 after purchasing an additional 1,910 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Herc during the fourth quarter valued at $5,377,000. State Street Corp boosted its stake in Herc by 0.5% during the third quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock valued at $106,165,000 after buying an additional 3,006 shares during the period. Hennessy Advisors Inc. purchased a new position in Herc during the fourth quarter worth about $62,982,000. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Herc by 12.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company’s stock valued at $527,000 after acquiring an additional 315 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Herc Stock Performance

Shares of NYSE HRI opened at $114.63 on Friday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.61 and a beta of 1.93. The stock’s 50-day moving average is $148.68 and its 200 day moving average is $181.72. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a 1-year low of $109.39 and a 1-year high of $246.88.

Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $919.84 million. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 12.84 EPS 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 given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.44%. This is a positive change from Herc’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Tuesday, February 18th. Herc’s dividend payout ratio is presently 37.79%.

Wall Street Analysts Forecast Growth

HRI has been the subject of several recent analyst reports. Citigroup cut their price objective on Herc from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group cut their price target on shares of Herc from $234.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.20.

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.