Advisors Asset Management Inc. Increases Holdings in Herc Holdings Inc. (NYSE:HRI)

Advisors Asset Management Inc. lifted its position in Herc Holdings Inc. (NYSE:HRIGet Rating) by 35.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,834 shares of the transportation company’s stock after purchasing an additional 1,261 shares during the quarter. Advisors Asset Management Inc.’s holdings in Herc were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Herc by 90.9% during the first quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 150 shares in the last quarter. Covestor Ltd raised its position in Herc by 95.8% during the first quarter. Covestor Ltd now owns 507 shares of the transportation company’s stock valued at $85,000 after acquiring an additional 248 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Herc by 12.0% during the second quarter. Nisa Investment Advisors LLC now owns 1,030 shares of the transportation company’s stock valued at $93,000 after acquiring an additional 110 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in Herc during the first quarter valued at approximately $109,000. Finally, Jacobi Capital Management LLC purchased a new position in Herc during the first quarter valued at approximately $200,000. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

Herc Stock Up 2.9 %

Shares of HRI opened at $131.25 on Friday. 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’s 50 day moving average is $114.96 and its two-hundred day moving average is $111.67. The firm has a market cap of $3.84 billion, a P/E ratio of 13.10, a PEG ratio of 0.54 and a beta of 2.55. Herc Holdings Inc. has a 12 month low of $83.43 and a 12 month high of $194.90.

Herc (NYSE:HRIGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The transportation company reported $3.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.52 by ($0.10). The firm had revenue of $745.10 million during the quarter. Herc had a return on equity of 30.20% and a net margin of 12.01%. Analysts predict that Herc Holdings Inc. will post 11.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HRI shares. The Goldman Sachs Group reduced their price target on Herc from $168.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 14th. StockNews.com began coverage on Herc in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, KeyCorp dropped their price objective on Herc from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.60.

Herc Company Profile

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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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Institutional Ownership by Quarter for Herc (NYSE:HRI)

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