Herc Holdings Inc. (HRI) to Issue Quarterly Dividend of $0.67 on March 7th

Herc Holdings Inc. (NYSE:HRIGet Free Report) announced a quarterly dividend on Wednesday, February 7th, Zacks reports. Investors of record on Wednesday, February 21st will be paid a dividend of 0.665 per share by the transportation company on Thursday, March 7th. This represents a $2.66 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, February 20th. This is a boost from Herc’s previous quarterly dividend of $0.63.

Herc has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Herc to earn $13.79 per share next year, which means the company should continue to be able to cover its $2.53 annual dividend with an expected future payout ratio of 18.3%.

Herc Price Performance

Shares of HRI stock opened at $150.51 on Friday. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.74 and a beta of 2.29. The business’s fifty day moving average is $142.88 and its 200 day moving average is $129.05. Herc has a twelve month low of $93.97 and a twelve month high of $159.24. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 3.14.

Institutional Investors Weigh In On Herc

Several hedge funds have recently added to or reduced their stakes in HRI. Raymond James & Associates boosted its holdings in Herc by 60.9% in the first quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock worth $1,724,000 after acquiring an additional 3,904 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Herc by 90.9% in the first quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock worth $52,000 after acquiring an additional 150 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Herc by 52.6% in the first quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock worth $2,206,000 after acquiring an additional 4,549 shares in the last quarter. Rhumbline Advisers boosted its holdings in Herc by 3.3% in the first quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock worth $4,740,000 after acquiring an additional 900 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in Herc in the first quarter worth $2,238,000. 93.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, KeyCorp cut Herc from an “overweight” rating to a “sector weight” rating in a research note on Monday, December 4th.

View Our Latest Research Report on Herc

About Herc

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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.

Further Reading

Dividend History for Herc (NYSE:HRI)

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