Herc Holdings Inc. (NYSE:HRI) Declares $0.67 Quarterly Dividend

Herc Holdings Inc. (NYSE:HRI) declared a quarterly dividend on Friday, August 9th, NASDAQ reports. Shareholders of record on Friday, August 23rd will be given a dividend of 0.665 per share by the transportation company on Friday, September 6th. This represents a $2.66 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, August 23rd.

Herc has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Herc to earn $14.66 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 18.1%.

Herc Stock Performance

HRI traded down $2.31 during trading on Friday, hitting $130.33. The stock had a trading volume of 134,201 shares, compared to its average volume of 229,627. The firm has a market cap of $3.70 billion, a PE ratio of 10.76, a P/E/G ratio of 0.88 and a beta of 2.08. The company has a 50 day simple moving average of $137.47 and a 200-day simple moving average of $148.74. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. Herc has a 12 month low of $100.17 and a 12 month high of $171.00.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HRI shares. StockNews.com lowered Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird restated a “neutral” rating and issued a $155.00 price objective on shares of Herc in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. initiated coverage on shares of Herc in a research note on Friday, June 7th. They set a “neutral” rating and a $155.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on Herc from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.50.

Insider Activity

In related news, CEO Lawrence Harris Silber sold 20,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $158.81, for a total transaction of $3,176,200.00. Following the completion of the transaction, the chief executive officer now directly owns 213,382 shares of the company’s stock, valued at $33,887,195.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lawrence Harris Silber sold 20,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $158.81, for a total value of $3,176,200.00. Following the sale, the chief executive officer now owns 213,382 shares in the company, valued at approximately $33,887,195.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tamir Peres sold 5,821 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the transaction, the senior vice president now owns 35,415 shares in the company, valued at $5,632,047.45. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

About Herc

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.