Jade Capital Advisors LLC Acquires Shares of 20,000 Herc Holdings Inc. (NYSE:HRI)

Jade Capital Advisors LLC bought a new stake in Herc Holdings Inc. (NYSE:HRI) during the third quarter, Holdings Channel reports. The institutional investor bought 20,000 shares of the transportation company’s stock, valued at approximately $3,189,000. Herc accounts for approximately 2.0% of Jade Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other large investors also recently modified their holdings of the stock. Capital Research Global Investors grew its position in shares of Herc by 185.7% in the first quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock valued at $28,720,000 after purchasing an additional 110,922 shares in the last quarter. American Century Companies Inc. grew its position in shares of Herc by 18.4% in the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock valued at $74,908,000 after purchasing an additional 87,330 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Herc by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,898,147 shares of the transportation company’s stock valued at $431,505,000 after purchasing an additional 60,715 shares in the last quarter. First Sabrepoint Capital Management LP purchased a new position in shares of Herc in the first quarter valued at $8,667,000. Finally, Candriam S.C.A. purchased a new position in shares of Herc in the second quarter valued at $4,556,000. Institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

HRI has been the subject of several recent analyst reports. StockNews.com cut Herc from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 price target on shares of Herc in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on Herc from $150.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $170.75.

Insider Buying and Selling

In related news, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $146.71, for a total value of $1,467,100.00. Following the transaction, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Tamir Peres sold 5,821 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the transaction, the senior vice president now owns 35,415 shares in the company, valued at $5,632,047.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,467,100.00. Following the completion of the transaction, the chief operating officer now owns 38,232 shares of the company’s stock, valued at approximately $5,609,016.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Herc Stock Performance

HRI stock opened at $169.16 on Tuesday. The stock has a market capitalization of $4.80 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.00 and a beta of 2.07. Herc Holdings Inc. has a 12-month low of $100.17 and a 12-month high of $178.93. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The stock’s 50 day simple moving average is $149.94 and its 200 day simple moving average is $146.13.

Herc (NYSE:HRI) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.94 by ($0.34). The business had revenue of $848.00 million during the quarter, compared to the consensus estimate of $813.05 million. Herc had a net margin of 10.00% and a return on equity of 26.99%. As a group, research analysts forecast that Herc Holdings Inc. will post 13.68 earnings per share for the current fiscal year.

Herc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.66 annualized dividend and a dividend yield of 1.57%. Herc’s payout ratio is 21.97%.

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.