Impax Asset Management Group plc Sells 104,428 Shares of Herc Holdings Inc. (NYSE:HRI)

Impax Asset Management Group plc reduced its holdings in Herc Holdings Inc. (NYSE:HRI) by 27.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,104 shares of the transportation company’s stock after selling 104,428 shares during the quarter. Impax Asset Management Group plc’s holdings in Herc were worth $52,684,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HRI. Allianz Asset Management GmbH grew its holdings in shares of Herc by 578.8% during the 4th quarter. Allianz Asset Management GmbH now owns 231,130 shares of the transportation company’s stock valued at $43,760,000 after purchasing an additional 197,082 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Herc by 6.8% in the fourth quarter. Handelsbanken Fonder AB now owns 6,258 shares of the transportation company’s stock worth $1,185,000 after buying an additional 400 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Herc by 564.0% in the 4th quarter. Venturi Wealth Management LLC now owns 737 shares of the transportation company’s stock valued at $140,000 after acquiring an additional 626 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Herc during the 4th quarter valued at about $946,000. Finally, Principal Financial Group Inc. grew its position in Herc by 1,067.0% during the 4th quarter. Principal Financial Group Inc. now owns 30,482 shares of the transportation company’s stock worth $5,771,000 after acquiring an additional 27,870 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Herc Price Performance

Shares of HRI stock opened at $163.58 on Monday. The business’s fifty day moving average is $195.08 and its 200 day moving average is $184.63. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.99. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.61 and a beta of 2.04. Herc Holdings Inc. has a twelve month low of $124.70 and a twelve month high of $246.88.

Herc (NYSE:HRI) last released its earnings results on Thursday, February 13th. The transportation company reported $3.58 earnings per share for the quarter, missing analysts’ consensus estimates of $3.98 by ($0.40). Herc had a return on equity of 26.48% and a net margin of 5.91%. The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $919.84 million. Research analysts expect that Herc Holdings Inc. will post 12.84 EPS for the current fiscal year.

Herc Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, February 18th. This is a positive change from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio (DPR) is 37.79%.

About Herc

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.