Point72 Asset Management L.P. Acquires New Shares in Herc Holdings Inc. (NYSE:HRI)

Point72 Asset Management L.P. purchased a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,600 shares of the transportation company’s stock, valued at approximately $13,935,000.

Several other large investors have also recently bought and sold shares of HRI. Proficio Capital Partners LLC acquired a new position in Herc during the 4th quarter worth about $5,377,000. Orion Portfolio Solutions LLC raised its holdings in shares of Herc by 12.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,784 shares of the transportation company’s stock valued at $527,000 after purchasing an additional 315 shares during the period. Barclays PLC boosted its holdings in Herc by 49.5% in the third quarter. Barclays PLC now owns 52,058 shares of the transportation company’s stock worth $8,299,000 after acquiring an additional 17,236 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Herc by 5.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 36,270 shares of the transportation company’s stock valued at $6,867,000 after purchasing an additional 1,766 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Herc during the fourth quarter worth about $2,359,000. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HRI. JPMorgan Chase & Co. lowered their price target on Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $146.00 target price (down from $171.00) on shares of Herc in a research report on Tuesday, April 22nd. Robert W. Baird lowered their price target on shares of Herc from $129.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Citigroup dropped their price objective on Herc from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays reduced their price target on shares of Herc from $250.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.20.

Herc Price Performance

HRI opened at $137.27 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $3.91 billion, a P/E ratio of 18.52, a PEG ratio of 1.61 and a beta of 1.85. The stock has a 50-day moving average price of $123.73 and a 200-day moving average price of $171.55. Herc Holdings Inc. has a 12-month low of $96.19 and a 12-month high of $246.88.

Herc (NYSE:HRI) last issued its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($1.21). 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 quarter in the previous year, the business earned $2.36 EPS. Equities analysts predict that Herc Holdings Inc. will post 12.84 earnings per share for the current fiscal year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.04%. Herc’s dividend payout ratio is currently 62.36%.

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.