Jennison Associates LLC Purchases 11,408 Shares of Herc Holdings Inc. (NYSE:HRI)

Jennison Associates LLC lifted its position in shares of Herc Holdings Inc. (NYSE:HRI) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466,119 shares of the transportation company’s stock after purchasing an additional 11,408 shares during the quarter. Jennison Associates LLC’s holdings in Herc were worth $69,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HRI. SG Americas Securities LLC bought a new stake in shares of Herc during the third quarter valued at approximately $775,000. Ziegler Capital Management LLC raised its stake in Herc by 88.9% during the third quarter. Ziegler Capital Management LLC now owns 2,780 shares of the transportation company’s stock valued at $331,000 after buying an additional 1,308 shares during the last quarter. Welch Group LLC raised its stake in Herc by 17.5% during the third quarter. Welch Group LLC now owns 2,350 shares of the transportation company’s stock valued at $280,000 after buying an additional 350 shares during the last quarter. Argent Capital Management LLC raised its stake in Herc by 33.4% during the third quarter. Argent Capital Management LLC now owns 2,195 shares of the transportation company’s stock valued at $261,000 after buying an additional 549 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Herc by 4.1% during the third quarter. Bank of New York Mellon Corp now owns 176,796 shares of the transportation company’s stock valued at $21,028,000 after buying an additional 6,944 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Herc Stock Down 1.2 %

HRI stock opened at $148.36 on Tuesday. Herc Holdings Inc. has a 1-year low of $93.97 and a 1-year high of $171.00. The business has a fifty day moving average price of $158.47 and a 200-day moving average price of $140.81. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $4.21 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.73 and a beta of 2.27.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, February 13th. The transportation company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.05). Herc had a return on equity of 30.21% and a net margin of 10.58%. The business had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $858.06 million. During the same quarter in the prior year, the firm earned $3.44 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts forecast that Herc Holdings Inc. will post 14.75 earnings per share for the current fiscal year.

Herc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Wednesday, February 21st were paid a $0.665 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.66 annualized dividend and a dividend yield of 1.79%. This is a boost from Herc’s previous quarterly dividend of $0.63. Herc’s payout ratio is currently 21.98%.

Insider Buying and Selling

In related news, SVP Tamir Peres sold 3,545 shares of Herc stock in a transaction on Friday, March 15th. The stock was sold at an average price of $159.10, for a total value of $564,009.50. Following the completion of the sale, the senior vice president now owns 41,236 shares of the company’s stock, valued at $6,560,647.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Robert W. Baird lifted their price objective on Herc from $117.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Herc has a consensus rating of “Hold” and an average target price of $152.50.

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.