Proficio Capital Partners LLC Acquires New Position in Herc Holdings Inc. (NYSE:HRI)

Proficio Capital Partners LLC bought a new position in Herc Holdings Inc. (NYSE:HRI) in the fourth quarter, HoldingsChannel reports. The fund bought 28,400 shares of the transportation company’s stock, valued at approximately $5,377,000.

A number of other institutional investors also recently modified their holdings of the stock. FMR LLC increased its stake in shares of Herc by 8.3% in the third quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock worth $117,470,000 after acquiring an additional 56,191 shares during the last quarter. State Street Corp increased its position in Herc by 0.5% in the 3rd quarter. State Street Corp now owns 665,904 shares of the transportation company’s stock worth $106,165,000 after purchasing an additional 3,006 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Herc by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 637,070 shares of the transportation company’s stock worth $101,589,000 after purchasing an additional 6,874 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Herc by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company’s stock valued at $63,011,000 after buying an additional 23,411 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Herc in the 4th quarter valued at approximately $71,211,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Herc Price Performance

Shares of NYSE:HRI opened at $135.35 on Tuesday. The stock has a market capitalization of $3.85 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.61 and a beta of 2.04. The business has a 50-day moving average of $189.76 and a two-hundred day moving average of $185.20. Herc Holdings Inc. has a fifty-two week low of $124.70 and a fifty-two week high of $246.88. 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 (NYSE:HRI) last posted its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing the consensus estimate of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $919.84 million. On average, equities research analysts predict that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.07%. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their target price on shares of Herc from $204.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Herc has an average rating of “Hold” and a consensus price target of $219.75.

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.