Cannon Global Investment Management LLC Increases Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Cannon Global Investment Management LLC lifted its holdings in shares of Herc Holdings Inc. (NYSE:HRI) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,100 shares of the transportation company’s stock after acquiring an additional 600 shares during the period. Cannon Global Investment Management LLC’s holdings in Herc were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HRI. Capital Research Global Investors grew its position in shares of Herc by 185.7% during the first quarter. Capital Research Global Investors now owns 170,649 shares of the transportation company’s stock worth $28,720,000 after acquiring an additional 110,922 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Herc by 18.4% during the second quarter. American Century Companies Inc. now owns 561,995 shares of the transportation company’s stock worth $74,908,000 after purchasing an additional 87,330 shares during the period. Ceredex Value Advisors LLC lifted its holdings in shares of Herc by 145.7% during the third quarter. Ceredex Value Advisors LLC now owns 91,725 shares of the transportation company’s stock worth $14,624,000 after purchasing an additional 54,400 shares during the period. First Sabrepoint Capital Management LP acquired a new stake in shares of Herc during the first quarter worth $8,667,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Herc by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,936,945 shares of the transportation company’s stock worth $494,288,000 after purchasing an additional 38,798 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 transaction, the chief operating officer now directly owns 38,232 shares of the company’s stock, valued at $5,609,016.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Aaron Birnbaum sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $146.71, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Samuel Wade Sheek sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $213.12, for a total value of $1,065,600.00. Following the transaction, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,880 shares of company stock worth $3,342,960. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HRI. JPMorgan Chase & Co. increased their price target on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $155.00 price target on shares of Herc in a report on Tuesday, July 23rd. The Goldman Sachs Group raised their target price on Herc from $178.00 to $204.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their target price on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded Herc from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $212.25.

Herc Price Performance

Herc stock traded up $1.03 during midday trading on Friday, reaching $210.17. The company’s stock had a trading volume of 370,951 shares, compared to its average volume of 421,565. The firm has a market capitalization of $5.97 billion, a PE ratio of 17.18, a P/E/G ratio of 1.20 and a beta of 2.02. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.22 and a current ratio of 1.22. Herc Holdings Inc. has a fifty-two week low of $108.50 and a fifty-two week high of $214.62. The stock’s 50 day simple moving average is $162.94 and its 200 day simple moving average is $149.20.

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

Herc Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 22nd. Herc’s dividend payout ratio is presently 21.75%.

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.