6,788 Herc Holdings Inc. $HRI Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC raised its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 4.6% during the third quarter, HoldingsChannel.com reports. The firm owned 153,511 shares of the transportation company’s stock after buying an additional 6,788 shares during the period. Herc accounts for 1.4% of Penn Capital Management Company LLC’s portfolio, making the stock its 22nd biggest position. Penn Capital Management Company LLC’s holdings in Herc were worth $19,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HRI. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Herc during the 2nd quarter valued at about $2,078,000. Greenland Capital Management LP purchased a new stake in Herc in the second quarter valued at about $1,147,000. Bank of America Corp DE raised its stake in Herc by 147.8% in the first quarter. Bank of America Corp DE now owns 235,320 shares of the transportation company’s stock valued at $23,426,000 after buying an additional 140,355 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Herc by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,164,022 shares of the transportation company’s stock valued at $115,872,000 after buying an additional 170,189 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Herc in the second quarter worth about $86,054,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Herc Stock Performance

HRI opened at $166.65 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 4.08. Herc Holdings Inc. has a 12-month low of $88.45 and a 12-month high of $188.35. The firm has a 50 day moving average of $139.86 and a two-hundred day moving average of $139.42. The firm has a market capitalization of $5.58 billion, a PE ratio of 45.41 and a beta of 1.99.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, October 27th. The transportation company reported $3.91 EPS for the quarter, beating the consensus estimate of $2.92 by $0.99. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Herc had a net margin of 2.50% and a return on equity of 13.21%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 EPS. On average, analysts anticipate that Herc Holdings Inc. will post 7.87 EPS for the current year.

Herc Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 2nd. Herc’s dividend payout ratio (DPR) is 76.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HRI. Zacks Research upgraded Herc from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Herc in a research report on Monday, October 26th. Barclays increased their price objective on shares of Herc from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Wells Fargo & Company lifted their target price on shares of Herc from $176.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Finally, KeyCorp boosted their target price on shares of Herc from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.57.

About Herc

Herc Holdings Inc, operating as Herc Rentals, provides equipment rental and related services to customers in construction, industrial, infrastructure, government and other sectors. Its offerings include aerial work platforms, earthmoving and material-handling equipment, power-generation and climate-control systems, pumps, and tools and accessories.

The company also provides equipment sales, repair and maintenance, and specialized services such as trench shoring and remediation. Herc Rentals serves customers across the United States and Canada through its rental locations and service network.

Herc’s roots are in Hertz Equipment Rental Corporation, which separated from Hertz Global Holdings in 2016 and became an independent publicly traded company.