Central Pacific Bank Trust Division Reduces Stake in Herc Holdings Inc. (NYSE:HRI)

Central Pacific Bank Trust Division lessened its stake in shares of Herc Holdings Inc. (NYSE:HRI) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,500 shares of the transportation company’s stock after selling 1,700 shares during the period. Central Pacific Bank Trust Division’s holdings in Herc were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC lifted its stake 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 purchasing an additional 61 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in Herc by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,995 shares of the transportation company’s stock valued at $1,275,000 after buying an additional 65 shares during the last quarter. MQS Management LLC boosted its stake in Herc by 3.8% during the third quarter. MQS Management LLC now owns 1,945 shares of the transportation company’s stock worth $310,000 after buying an additional 71 shares during the period. Stifel Financial Corp increased its position in shares of Herc by 4.1% during the third quarter. Stifel Financial Corp now owns 2,019 shares of the transportation company’s stock valued at $322,000 after acquiring an additional 80 shares during the last quarter. Finally, Welch Group LLC raised its stake in shares of Herc by 1.9% in the 3rd quarter. Welch Group LLC now owns 6,200 shares of the transportation company’s stock valued at $988,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HRI. The Goldman Sachs Group increased their price objective 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. Barclays lifted their price objective on Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Herc presently has an average rating of “Hold” and a consensus target price of $219.75.

Herc Stock Up 0.7 %

Shares of Herc stock traded up $1.36 during trading hours on Friday, reaching $187.38. 91,537 shares of the company were exchanged, compared to its average volume of 158,479. The firm has a market cap of $5.32 billion, a PE ratio of 15.32, a PEG ratio of 1.19 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 1 year low of $124.70 and a 1 year high of $246.88. The stock’s fifty day moving average is $212.30 and its 200 day moving average is $169.34.

Herc (NYSE:HRI) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). The company had revenue of $965.00 million during the quarter, compared to analyst estimates of $931.33 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. Herc’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.00 EPS. As a group, equities research analysts forecast that Herc Holdings Inc. will post 13.59 earnings per share 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 paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.66 dividend on an annualized basis and a yield of 1.42%. Herc’s dividend payout ratio is currently 21.75%.

Insiders Place Their Bets

In other news, Director Michael A. Kelly sold 3,880 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $208.83, for a total transaction of $810,260.40. Following the sale, the director now owns 13,774 shares of the company’s stock, valued at approximately $2,876,424.42. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 sale, the senior vice president now owns 21,586 shares of the company’s stock, valued at approximately $4,600,408.32. The trade was a 18.81 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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.