Edgestream Partners LP buys 19,332 shares of Herc Holdings Inc. (NYSE:HRI)

VaselineSeptember 19, 2024

0 4 minutes read

Edgestream Partners LP acquired a new position in shares of Herc Holdings Inc. (NYSE:HRI – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 19,332 shares of the transportation company’s stock, valued at approximately $2,577,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Herc in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in Herc by 650.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 240 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 208 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Herc by 303.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,551 shares of the transportation company’s stock valued at $207,000 after purchasing an additional 1,167 shares during the period. Massmutual Trust Co. FSB ADV acquired a new position in Herc in the 1st quarter worth $227,000. Finally, Qsemble Capital Management LP purchased a new stake in Herc in the 1st quarter worth approximately $242,000. Hedge funds and other institutional investors own 93.11% of the company’s shares.

Analysts set new price targets

Several brokerages have recently issued reports on HRI. Robert W. Baird reiterated a “neutral” rating and issued a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Herc in a research report on Friday, June 7th. They issued a “neutral” rating and a $155.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $159.50, based on data from MarketBeat.

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Insider buying and selling at Herc

In other news, SVP Tamir Peres sold 5,821 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total value of $925,713.63. Following the completion of the sale, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at approximately $5,632,047.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other Herc news, COO Aaron Birnbaum sold 10,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, SVP Tamir Peres sold 5,821 shares of the business’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 sale, the senior vice president now directly owns 35,415 shares of the company’s stock, valued at $5,632,047.45. The disclosure for this sale can be found here. 1.80% of shares are currently owned by insiders.

Herc Trading Down 0.7%

HRI opened at $151.56 on Thursday. The company’s 50-day simple moving average is $141.18, and its 200-day simple moving average is $146.38. The company has a market cap of $4.30 billion, a P/E ratio of 12.52, a PEG ratio of 0.82 and a beta of 2.07. Herc Holdings Inc. it has a one year low of $100.17 and a one year high of $171.00. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.23, and a current ratio of 1.23.

Herc (NYSE:HRI – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.34). The company had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $813.05 million. Herc had a net margin of 10.00% and a return on equity of 26.99%. As a group, equities research analysts expect that Herc Holdings Inc. to record 13.68 EPS for the current fiscal year.

Herc dividend announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.665 dividend. The ex-dividend date of this dividend was Thursday, August 22. This represents a dividend of $2.66 on an annualized basis and a yield of 1.76%. Herc’s dividend payout ratio (DPR) is currently 21.97%.

About Herc

(Free report)

Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental provider. Rents aerial, earthmoving, material handling equipment, trucks and trailers, air compressors, compaction and lighting equipment, as well as generators, as well as supplies and safety materials; and offers ProSolutions, industry-specific solution-based services such as pumping solutions, power generation, climate control, remediation and restoration, as well as studio and production equipment.