The most recent Form 13F that Strs Ohio submitted to the Securities and Exchange Commission revealed that the company’s holdings in Herc Holdings Inc. (NYSE: HRI) were reduced by 44.2% during the third quarter. The fund was left with 4,800 shares of the transportation company’s equity after selling 3,800 shares of the company’s stock throughout the period in question. After the most recent reporting period, the value of Strs. Ohio’s stake in Herc was calculated to be $498,000.
A few additional hedge funds have modified the amount of HRI stock they hold in their portfolios. During the second quarter, Ceredex Value Advisors LLC completed a 54.6% increase in the Herc stock held in its portfolio. Ceredex Value Advisors LLC currently holds 711,800 shares of the transportation company’s stock, which has a value of $64,169,000. This comes after the previous quarter saw the purchase of an additional 601,625 shares of the company’s stock. A thirty-one point one percent increase in the amount of Herc that was held by Invesco Ltd. during the first three months of 2018 Invesco Ltd. now has a total of 1,128,905 shares of the transportation company’s stock, which are currently valued at $188,630,000, after making an additional purchase of 261,276 shares during the period in question. During the second quarter of the fiscal year, Franklin Resources Inc. increased the percentage of Herc in its portfolio by 36.4%. By purchasing an additional 226,404 shares of transportation company stock throughout the period in question, Franklin Resources Inc. brought its total number of shares of transportation company stock up to 849,130. These shares are currently worth a total of $76,548,000 as of right now. During the second quarter, Eagle Asset Management Inc. incurred approximately $16,074,000 to purchase a new investment in Herc. During the first three months of 2018, Bank of America Corp. (DE) increased the percentage of hedging assets it held by 31.3%. After purchasing an additional 153,362 shares of the transportation company’s stock during the quarter, Bank of America Corp. (DE) now holds 642,919 shares of the company’s stock. Based on the current market price, this gives the company a value of approximately $107,425,000. The vast majority of the company’s stock is owned by various institutions, making up 96.50% of the total.
Several different equity analysts have contributed their insights to reports produced on the HRI shares. On October 12, a research report was made available on StockNews.com. This publication marked the beginning of the website’s coverage of Herc shares. They advised their clients to “hold” the stock moving forward. Both the “overweight” rating that they currently have on Herc, which is now “overweight,” and their price objective for the stock, which has been raised from $145.00 to $160.00, were raised by KeyCorp. A research note published on November 22 announced both of these alterations. In a research note published on Friday, January 13, Barclays upgraded Herc to an “overweight” rating and increased their price target on the stock from $160.00 to $175.00. Goldman Sachs Group lowered their price objective on Herc shares from $168.00 to $150.00 in a research report published on Friday, October 14. However, they did not change the stock’s “buy” rating. Six equity research experts have suggested to investors that they should purchase the stock, whereas only one has suggested that they continue to hold onto it. The website Bloomberg.com reports that the company is currently rated as a “Moderate Buy” and that the price objective that has been determined by consensus is $168.83.
On Friday, December 9, Mark Irion, Chief Financial Officer of Herc, successfully sold 4,194 shares to satisfy a trading quota. The price of each share was determined to be $131.37, which resulted in a total sale volume of 550,965.78 dollars and an average price per share of $131.37. After the completion of the sale, the chief financial officer was awarded ownership of 47,520 shares. Based on the current market price, these shares are worth $6,242,702.40. The sale was described in a document submitted to the SEC and can be located on the website of the SEC.
Additionally, on November 23, 5,432 shares of the company’s stock were sold by Carl C. Icahn, the largest shareholder in the organization. The shares were sold at a volume that resulted in a total sale volume of 724,574.48 dollars, with an average price per share of 133.39 dollars. The corporate insider is now the owner of 3,945,603 company shares, which have a combined value of $526,303,984.17 as a result of the transaction. If you click on this link, you will be taken to a legal filing that was made with the SEC, which will give you more information regarding the transaction and take you there immediately. In addition, on Friday, December 9, the Chief Financial Officer of the company, Mark Irion, sold 4,194 shares of the company’s stock. At an average price of $131.37 per share, a total of $550,965.78 worth of the stock was traded, resulting in revenue for the company. Following the completion of the acquisition, the chief financial officer now has a total of 47,520 shares in the company. Based on the current stock price, these shares are estimated to be worth $6,242,702.40. Disclosures that are related to the sale might be found in this section of the website. Recent transactions involving members of the company’s inner circle resulted in the sale of 178,923 shares, which had a total value of $23,853,997. The current percentage of shares held by company insiders is 1.40 percent of the total number of shares outstanding.
Trading in HRI stock began on Thursday for $143.84, which continued until Friday. The company’s stock has a current market value of $4.21 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.52, and a beta value of 2.45. There is a correlation of 1.09 between the current ratio and the quick ratio and a correlation of 2.65 between the debt-to-equity ratio and the quick ratio. Both ratios measure liquidity. Over the last 52 weeks, the price of Herc Holdings Inc. has fluctuated between $83.43 and $175.00, with an average price of $175.00 being reached. The average price for the company over the past 50 days is $133.08, and the average price over the last 200 days is $119.35. The simple moving average is calculated using the last 50 days.
The most recent quarterly earnings report for Herc (NYSE: HRI) was published on October 20. The transportation company reported earnings per share for the quarter to be $3.42, which was $0.10 less than the consensus estimate of $3.52 that analysts had provided. The company reported total revenue of $745.10 million for the period in question. Herc had a return on equity of 30.20 percent, and the company’s net margin was 12.1 percent. According to forecasts provided by market analysts, Herc Holdings Inc.’s earnings for the current financial year are anticipated to amount to $11.4 per share.
In addition, the company distributed a dividend that was declared for the preceding quarter on December 27, when the dividend was paid out. On Monday, December 12, $0.575 dividend payments were distributed to shareholders on record when the dividends were declared. This results in an annual dividend payment of $2.30 and a yield of 1.60 percent for the investment. On Friday, December 9, shareholders did not receive a portion of this dividend because it had already been distributed. The dividend payout ratio, also referred to as the DPR, for Herc currently stands at 22.95%.