Allianz Asset Management GmbH cut its stake in Herc Holdings Inc. (NYSE:HRI) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,513 shares of the transportation company’s stock after selling 28,403 shares during the period. Allianz Asset Management GmbH owned 0.39% of Herc worth $7,113,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in Herc by 1.3% in the fourth quarter. BlackRock Inc. now owns 1,578,622 shares of the transportation company’s stock worth $98,837,000 after buying an additional 19,864 shares during the period. Dimensional Fund Advisors LP increased its position in Herc by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 910,632 shares of the transportation company’s stock worth $59,146,000 after buying an additional 6,218 shares during the period. Millennium Management LLC acquired a new stake in Herc in the fourth quarter worth $22,432,000. Geode Capital Management LLC increased its position in Herc by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 222,064 shares of the transportation company’s stock worth $13,903,000 after buying an additional 6,731 shares during the period. Finally, Hood River Capital Management LLC increased its position in Herc by 1.2% in the first quarter. Hood River Capital Management LLC now owns 210,716 shares of the transportation company’s stock worth $13,686,000 after buying an additional 2,480 shares during the period. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
HRI has been the topic of a number of research analyst reports. Goldman Sachs Group lowered Herc from a “neutral” rating to a “sell” rating and set a $43.00 price target on the stock. in a report on Thursday, April 19th. Zacks Investment Research lowered Herc from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine raised Herc from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Northcoast Research reissued a “hold” rating on shares of Herc in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.86.
Herc (NYSE:HRI) last issued its quarterly earnings results on Wednesday, May 9th. The transportation company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.32. The company had revenue of $431.30 million for the quarter, compared to analyst estimates of $443.36 million. Herc had a return on equity of 4.61% and a net margin of 10.54%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned ($1.39) earnings per share. sell-side analysts anticipate that Herc Holdings Inc. will post 1.32 EPS for the current year.
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.
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