Herc Holdings Inc. (NYSE:HRI) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP reduced its position in Herc Holdings Inc. (NYSE:HRI) by 63.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,862 shares of the transportation company’s stock after selling 13,668 shares during the period. Dark Forest Capital Management LP’s holdings in Herc were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in shares of Herc by 435.8% in the fourth quarter. Capital World Investors now owns 1,419,015 shares of the transportation company’s stock worth $268,662,000 after acquiring an additional 1,154,182 shares during the period. Norges Bank purchased a new position in shares of Herc in the 4th quarter valued at about $183,786,000. FMR LLC raised its holdings in Herc by 69.0% in the 4th quarter. FMR LLC now owns 1,245,168 shares of the transportation company’s stock worth $235,748,000 after purchasing an additional 508,359 shares during the period. Artemis Investment Management LLP purchased a new position in Herc during the fourth quarter worth approximately $71,211,000. Finally, Hennessy Advisors Inc. acquired a new stake in Herc in the fourth quarter valued at approximately $62,982,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup reduced their target price on Herc from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Herc from $225.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Herc in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.20.

Herc Stock Down 7.6 %

NYSE HRI opened at $103.08 on Wednesday. The business has a fifty day moving average price of $136.05 and a 200 day moving average price of $179.60. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $2.94 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.61 and a beta of 1.93. Herc Holdings Inc. has a one year low of $96.19 and a one year high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, April 22nd. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.46 by ($1.16). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $841.67 million. During the same period in the prior year, the business posted $2.36 earnings per share. Research analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Herc’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.72%. Herc’s dividend payout ratio is 37.79%.

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.