Advisors Asset Management Inc. Acquires 2,693 Shares of Herc Holdings Inc. (NYSE:HRI)

Advisors Asset Management Inc. raised its holdings in Herc Holdings Inc. (NYSE:HRI) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,384 shares of the transportation company’s stock after purchasing an additional 2,693 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.10% of Herc worth $5,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Herc by 8.3% in the third quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock valued at $117,470,000 after buying an additional 56,191 shares during the last quarter. State Street Corp increased its position in Herc by 0.5% in the 3rd quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock valued at $106,165,000 after acquiring an additional 3,006 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Herc by 1.1% in the third quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company’s stock worth $101,589,000 after acquiring an additional 6,874 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Herc by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company’s stock worth $63,011,000 after purchasing an additional 23,411 shares in the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Herc during the fourth quarter valued at approximately $71,211,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Up 3.9 %

Shares of NYSE HRI opened at $132.96 on Thursday. 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 firm has a market capitalization of $3.78 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The firm’s 50-day moving average is $175.41 and its 200-day moving average is $183.82. Herc Holdings Inc. has a 1 year low of $119.60 and a 1 year high of $246.88.

Herc (NYSE:HRI) last released its earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). The business had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. Herc had a return on equity of 26.48% and a net margin of 5.91%. Equities analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio is currently 37.79%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price objective on Herc from $234.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $211.50.

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.