Herc Holdings Inc. (NYSE:HRI – Get Rating) – Stock analysts at KeyCorp upped their Q3 2023 earnings per share estimates for shares of Herc in a note issued to investors on Monday, November 21st. KeyCorp analyst K. Newman now expects that the transportation company will post earnings per share of $4.90 for the quarter, up from their prior estimate of $4.53. KeyCorp currently has a “Overweight” rating and a $160.00 price target on the stock. The consensus estimate for Herc’s current full-year earnings is $11.40 per share.
Herc (NYSE:HRI – Get Rating) last posted its earnings results on Thursday, October 20th. The transportation company reported $3.42 earnings per share for the quarter, missing analysts’ consensus estimates of $3.52 by ($0.10). The firm had revenue of $745.10 million for the quarter. Herc had a return on equity of 30.20% and a net margin of 12.01%.
Herc Trading Down 1.4 %
NYSE:HRI opened at $132.09 on Wednesday. The company has a 50-day moving average price of $116.31 and a 200-day moving average price of $112.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.65. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.57 and a beta of 2.55. Herc has a 12 month low of $83.43 and a 12 month high of $194.90.
Insider Transactions at Herc
In related news, major shareholder Carl C. Icahn sold 5,432 shares of Herc stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $133.39, for a total transaction of $724,574.48. Following the sale, the insider now owns 3,945,603 shares of the company’s stock, valued at approximately $526,303,984.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Carl C. Icahn sold 39,700 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $132.99, for a total transaction of $5,279,703.00. Following the completion of the transaction, the insider now owns 3,975,421 shares in the company, valued at $528,691,238.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Carl C. Icahn sold 5,432 shares of Herc stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $133.39, for a total value of $724,574.48. Following the completion of the sale, the insider now directly owns 3,945,603 shares in the company, valued at $526,303,984.17. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of HRI. State of New Jersey Common Pension Fund D lifted its position in shares of Herc by 9.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 16,362 shares of the transportation company’s stock worth $2,734,000 after purchasing an additional 1,364 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Herc by 1.3% during the first quarter. Envestnet Asset Management Inc. now owns 23,040 shares of the transportation company’s stock valued at $3,850,000 after acquiring an additional 306 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Herc in the first quarter valued at approximately $658,000. Royce & Associates LP grew its stake in Herc by 1.3% in the first quarter. Royce & Associates LP now owns 80,955 shares of the transportation company’s stock worth $13,527,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in Herc during the 1st quarter worth $18,409,000. 94.67% of the stock is owned by hedge funds and other institutional investors.
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.
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