Geode Capital Management LLC increased its position in Herc Holdings Inc. (NYSE:HRI) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,422 shares of the transportation company’s stock after buying an additional 13,159 shares during the period. Geode Capital Management LLC owned 0.65% of Herc Holdings worth $8,967,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Herc Holdings during the fourth quarter worth approximately $343,000. Dimensional Fund Advisors LP raised its position in Herc Holdings by 55.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 703,497 shares of the transportation company’s stock worth $28,253,000 after buying an additional 250,844 shares during the last quarter. Guggenheim Capital LLC bought a new position in Herc Holdings during the fourth quarter worth approximately $330,000. Norges Bank bought a new position in Herc Holdings during the fourth quarter worth approximately $7,844,000. Finally, Private Bank & Trust Co. bought a new position in Herc Holdings during the first quarter worth approximately $330,000. 99.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Herc Holdings Inc. (NYSE:HRI) opened at 36.73 on Friday. The firm’s 50-day moving average price is $42.82 and its 200-day moving average price is $44.21. The stock’s market cap is $1.04 billion. Herc Holdings Inc. has a 52-week low of $28.66 and a 52-week high of $52.96.
Herc Holdings (NYSE:HRI) last issued its earnings results on Tuesday, August 8th. The transportation company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.25. Herc Holdings had a negative net margin of 4.82% and a negative return on equity of 9.52%. The company had revenue of $416 million during the quarter, compared to the consensus estimate of $397 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. Herc Holdings’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that Herc Holdings Inc. will post ($0.55) EPS for the current year.
HRI has been the subject of a number of analyst reports. Zacks Investment Research raised Herc Holdings from a “sell” rating to a “hold” rating and set a $52.00 price target for the company in a report on Wednesday, May 3rd. Sidoti lowered Herc Holdings from a “buy” rating to a “neutral” rating in a report on Thursday, May 18th. ValuEngine raised Herc Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, MKM Partners reaffirmed a “buy” rating and issued a $22.00 price target on shares of Herc Holdings in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Herc Holdings currently has an average rating of “Hold” and an average target price of $45.00.
In related news, COO James Bruce Dressel acquired 5,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average price of $35.61 per share, with a total value of $178,050.00. Following the acquisition, the chief operating officer now directly owns 38,902 shares of the company’s stock, valued at $1,385,300.22. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Carl C. Icahn acquired 109,249 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $38.95 per share, with a total value of $4,255,248.55. The disclosure for this purchase can be found here. Insiders have acquired a total of 116,749 shares of company stock valued at $4,530,849 in the last three months. Insiders own 0.12% of the company’s stock.
About Herc Holdings
Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.
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