Phocas Financial Corp. Sells 2,896 Shares of Herc Holdings Inc. (NYSE:HRI)

Phocas Financial Corp. cut its stake in Herc Holdings Inc. (NYSE:HRI) by 5.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 46,097 shares of the transportation company’s stock after selling 2,896 shares during the quarter. Phocas Financial Corp.’s holdings in Herc were worth $7,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Whalen Wealth Management Inc. bought a new stake in shares of Herc in the 3rd quarter worth about $771,000. Pathstone Holdings LLC grew its stake in Herc by 2.5% during the third quarter. Pathstone Holdings LLC now owns 21,679 shares of the transportation company’s stock worth $3,456,000 after buying an additional 522 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Herc by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 55,960 shares of the transportation company’s stock worth $8,922,000 after buying an additional 236 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Herc in the third quarter valued at approximately $35,996,000. Finally, Natixis Advisors LLC acquired a new position in shares of Herc in the 3rd quarter worth approximately $3,891,000. Institutional investors own 93.11% of the company’s stock.

Insider Activity at Herc

In related news, SVP Samuel Wade Sheek sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the completion of the transaction, the senior vice president now directly owns 21,586 shares of the company’s stock, valued at approximately $4,600,408.32. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Kelly sold 3,880 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the sale, the director now directly owns 13,774 shares in the company, valued at $2,876,424.42. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,880 shares of company stock valued at $3,342,960. 1.70% of the stock is owned by insiders.

Herc Price Performance

Shares of HRI opened at $217.48 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 2.89. Herc Holdings Inc. has a twelve month low of $119.08 and a twelve month high of $246.88. The stock has a market capitalization of $6.18 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.25 and a beta of 2.02. The company has a 50 day moving average of $179.49 and a 200-day moving average of $154.35.

Herc (NYSE:HRI) last released its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). Herc had a net margin of 10.09% and a return on equity of 26.35%. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. During the same period last year, the business posted $4.00 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on HRI. JPMorgan Chase & Co. raised their price objective on shares of Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 target price on shares of Herc in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Herc presently has an average rating of “Hold” and a consensus price target of $212.25.

Herc 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.