Harvey Capital Management Inc. Sells 3,147 Shares of Herc Holdings Inc. (NYSE:HRI)

Harvey Capital Management Inc. reduced its position in shares of Herc Holdings Inc. (NYSE:HRI) by 13.3% during the fourth quarter, Holdings Channel reports. The firm owned 20,508 shares of the transportation company’s stock after selling 3,147 shares during the period. Harvey Capital Management Inc.’s holdings in Herc were worth $3,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in Herc in the fourth quarter worth $5,523,000. EULAV Asset Management bought a new stake in shares of Herc during the 4th quarter worth $1,534,000. KBC Group NV boosted its holdings in shares of Herc by 34.7% in the 4th quarter. KBC Group NV now owns 1,150 shares of the transportation company’s stock worth $218,000 after buying an additional 296 shares during the last quarter. Eagle Wealth Strategies LLC bought a new position in Herc during the fourth quarter valued at about $235,000. Finally, Atomi Financial Group Inc. increased its holdings in Herc by 43.8% during the fourth quarter. Atomi Financial Group Inc. now owns 1,970 shares of the transportation company’s stock worth $373,000 after buying an additional 600 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Herc Stock Performance

NYSE HRI opened at $206.98 on Wednesday. The firm has a market cap of $5.88 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.08 and a beta of 2.04. The company’s 50 day moving average is $200.37 and its 200-day moving average is $181.62. Herc Holdings Inc. has a 12-month low of $124.70 and a 12-month high of $246.88. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.70 per share. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 1.35%. Herc’s dividend payout ratio is 21.75%.

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.