Peregrine Capital Management LLC Buys New Shares in Herc Holdings Inc. $HRI

Peregrine Capital Management LLC acquired a new position in shares of Herc Holdings Inc. (NYSE:HRI) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,618 shares of the transportation company’s stock, valued at approximately $6,234,000.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP lifted its position in shares of Herc by 12.7% in the 3rd quarter. First Trust Advisors LP now owns 752,255 shares of the transportation company’s stock valued at $87,758,000 after acquiring an additional 84,586 shares in the last quarter. Natixis Advisors LLC grew its position in Herc by 39.0% during the 3rd quarter. Natixis Advisors LLC now owns 115,508 shares of the transportation company’s stock worth $13,475,000 after purchasing an additional 32,426 shares in the last quarter. UBS Group AG grew its position in Herc by 83.2% during the 4th quarter. UBS Group AG now owns 189,925 shares of the transportation company’s stock worth $28,181,000 after purchasing an additional 86,282 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Herc by 27.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,851 shares of the transportation company’s stock valued at $15,669,000 after purchasing an additional 22,367 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in Herc during the 4th quarter valued at $2,098,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Herc Price Performance

NYSE HRI opened at $140.81 on Thursday. Herc Holdings Inc. has a fifty-two week low of $88.45 and a fifty-two week high of $188.35. The stock’s 50-day moving average is $137.04 and its two-hundred day moving average is $138.09. The firm has a market cap of $4.70 billion, a P/E ratio of -521.50, a price-to-earnings-growth ratio of 25.96 and a beta of 1.88. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.46 and a quick ratio of 1.46.

Herc (NYSE:HRI) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.42. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.06 billion. Herc had a positive return on equity of 10.72% and a negative net margin of 0.11%.The firm’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 EPS. On average, analysts anticipate that Herc Holdings Inc. will post 5.31 earnings per share for the current fiscal year.

Herc Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. Herc’s dividend payout ratio is currently -1,037.04%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HRI shares. Zacks Research upgraded Herc from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price objective on Herc from $165.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Citigroup lifted their target price on Herc from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their target price on Herc from $160.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Herc from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $164.86.

Herc Company Profile

Herc Holdings Inc (NYSE: HRI) operates as a leading equipment rental provider in North America, offering a wide range of machinery and support services to construction, industrial, government and event sectors. The company’s fleet includes aerial work platforms, earthmoving equipment, material handling solutions, power generation units and specialty tools, enabling clients to scale their operations without the capital expense of ownership. In addition to basic machinery rentals, Herc provides value-added services such as equipment maintenance, on-site safety training and project consulting to help customers optimize productivity and maintain compliance with industry standards.

Founded as part of Hertz Global Holdings, the equipment rental business was spun off as an independent public company in early 2016.