VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Herc Holdings Inc. $HRI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 7,002 shares of the transportation company’s stock, valued at approximately $922,000.

Several other hedge funds have also recently bought and sold shares of HRI. Allspring Global Investments Holdings LLC acquired a new position in Herc during the first quarter worth $11,259,000. Cannon Global Investment Management LLC raised its stake in Herc by 33.3% during the first quarter. Cannon Global Investment Management LLC now owns 2,000 shares of the transportation company’s stock worth $269,000 after acquiring an additional 500 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Herc during the first quarter worth $530,000. Principal Financial Group Inc. raised its stake in Herc by 71.5% during the first quarter. Principal Financial Group Inc. now owns 52,290 shares of the transportation company’s stock worth $7,021,000 after acquiring an additional 21,808 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Herc by 9.6% in the first quarter. D.A. Davidson & CO. now owns 39,246 shares of the transportation company’s stock valued at $5,270,000 after buying an additional 3,435 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Price Performance

Herc stock opened at $128.53 on Friday. The business’s 50-day simple moving average is $126.51 and its 200 day simple moving average is $125.12. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 149.45, a P/E/G ratio of 1.57 and a beta of 1.81. Herc Holdings Inc. has a 12-month low of $96.18 and a 12-month high of $246.88. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.37.

Herc (NYSE:HRI) last issued its earnings results on Thursday, November 2nd. The transportation company reported $3.42 earnings per share (EPS) for the quarter. Herc had a return on equity of 20.77% and a net margin of 0.61%.The firm had revenue of $745.00 million for the quarter. As a group, research analysts anticipate that Herc Holdings Inc. will post 12.84 earnings per share for the current year.

Herc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.2%. Herc’s dividend payout ratio (DPR) is 325.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HRI shares. JPMorgan Chase & Co. raised their target price on Herc from $127.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Herc in a research note on Wednesday, October 8th. Citigroup lowered their target price on Herc from $170.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Robert W. Baird set a $160.00 target price on Herc and gave the company an “outperform” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.20.

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.