Herc (NYSE:HRI) Shares Up 6.2%

Herc Holdings Inc. (NYSE:HRI) shares shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $152.42 and last traded at $152.00. 148,325 shares traded hands during trading, a decline of 34% from the average session volume of 223,843 shares. The stock had previously closed at $143.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HRI. JPMorgan Chase & Co. assumed coverage on shares of Herc in a research report on Friday, June 7th. They set a “neutral” rating and a $155.00 target price on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $155.00 price objective on shares of Herc in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Herc has an average rating of “Hold” and an average target price of $159.50.

Herc Trading Up 3.7 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.91. The business has a fifty day simple moving average of $141.66 and a 200 day simple moving average of $146.45. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.82 and a beta of 2.07.

Herc (NYSE:HRI) last released its earnings results on Tuesday, July 23rd. The transportation company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a net margin of 10.00% and a return on equity of 26.99%. The business had revenue of $848.00 million during the quarter, compared to analyst estimates of $813.05 million. On average, equities analysts anticipate that Herc Holdings Inc. will post 13.68 EPS for the current fiscal year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio (DPR) is presently 21.97%.

Insider Transactions at Herc

In related news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the sale, the chief operating officer now owns 38,232 shares in the company, valued at approximately $5,609,016.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Herc news, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total value of $925,713.63. Following the completion of the sale, the senior vice president now owns 35,415 shares in the company, valued at approximately $5,632,047.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $146.71, for a total value of $1,467,100.00. Following the completion of the sale, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Herc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRI. Headlands Technologies LLC purchased a new stake in shares of Herc during the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of Herc by 650.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock worth $40,000 after purchasing an additional 208 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Herc by 303.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,551 shares of the transportation company’s stock worth $207,000 after purchasing an additional 1,167 shares during the period. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Herc during the 1st quarter worth about $227,000. Finally, Qsemble Capital Management LP purchased a new stake in shares of Herc during the 1st quarter worth about $242,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

About Herc

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.