Artemis Investment Management LLP Invests $71.21 Million in Herc Holdings Inc. (NYSE:HRI)

Artemis Investment Management LLP purchased a new stake in Herc Holdings Inc. (NYSE:HRI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 376,119 shares of the transportation company’s stock, valued at approximately $71,211,000. Herc makes up approximately 1.0% of Artemis Investment Management LLP’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Herc by 27.7% in the 3rd quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock valued at $45,000 after buying an additional 61 shares in the last quarter. Covestor Ltd lifted its position in Herc by 70.4% in the third quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 133 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Herc by 369.9% in the third quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 270 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Herc by 704.2% during the third quarter. GAMMA Investing LLC now owns 386 shares of the transportation company’s stock worth $62,000 after purchasing an additional 338 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Herc during the third quarter worth about $80,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRI has been the topic of a number of research reports. Barclays raised their price target on Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Herc from $204.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.75.

Herc Trading Up 1.4 %

Shares of HRI stock opened at $205.98 on Friday. The company has a market capitalization of $5.85 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.88 and a beta of 2.06. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. The business’s 50 day moving average is $206.32 and its two-hundred day moving average is $174.05. Herc Holdings Inc. has a twelve month low of $124.70 and a twelve month high of $246.88.

Herc (NYSE:HRI) last posted its quarterly earnings data 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). The firm had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $931.33 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $4.00 earnings per share. Equities analysts forecast that Herc Holdings Inc. will post 13.59 EPS for the current year.

Herc Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.66 annualized dividend and a yield of 1.29%. Herc’s dividend payout ratio is currently 21.75%.

Insider Activity at Herc

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

Herc Company 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.