Summit Global Investments Sells 3,562 Shares of Herc Holdings Inc. (NYSE:HRI)

Summit Global Investments cut its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,797 shares of the transportation company’s stock after selling 3,562 shares during the quarter. Summit Global Investments’ holdings in Herc were worth $1,098,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Herc by 878.9% during the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock worth $35,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Herc by 54.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock worth $70,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Herc by 34.1% during the fourth quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company’s stock worth $87,000 after buying an additional 117 shares during the last quarter. Truvestments Capital LLC acquired a new position in Herc during the third quarter worth $80,000. Finally, Venturi Wealth Management LLC raised its holdings in Herc by 564.0% during the fourth quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company’s stock worth $140,000 after buying an additional 626 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Stock Performance

Shares of HRI stock opened at $135.60 on Friday. The firm has a 50-day moving average of $173.62 and a 200-day moving average of $183.73. The company has a market cap of $3.86 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.61 and a beta of 2.14. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. Herc Holdings Inc. has a one year low of $119.60 and a one year high of $246.88.

Herc (NYSE:HRI) last announced its earnings results on Thursday, February 13th. The transportation company reported $3.58 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.40). The firm had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Herc had a net margin of 5.91% and a return on equity of 26.48%. Equities research analysts forecast that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, February 18th. This is an increase from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio (DPR) is 37.79%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their price objective on shares of Herc from $234.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $211.50.

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.