Alliancebernstein L.P. Sells 350,438 Shares of Herc Holdings Inc. (NYSE:HRI)

Alliancebernstein L.P. trimmed its stake in Herc Holdings Inc. (NYSE:HRI) by 58.3% in the 4th quarter, HoldingsChannel reports. The fund owned 250,298 shares of the transportation company’s stock after selling 350,438 shares during the quarter. Alliancebernstein L.P.’s holdings in Herc were worth $47,389,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in Herc by 878.9% in the fourth quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 167 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Herc by 53.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the transportation company’s stock valued at $44,000 after buying an additional 80 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Herc by 54.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 368 shares of the transportation company’s stock worth $70,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Herc by 34.1% during the 4th quarter. Farther Finance Advisors LLC now owns 460 shares of the transportation company’s stock worth $87,000 after acquiring an additional 117 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Herc by 564.0% during the fourth 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. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Herc Trading Down 5.7 %

NYSE HRI opened at $122.47 on Friday. The stock has a market cap of $3.49 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.61 and a beta of 1.93. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.99. Herc Holdings Inc. has a 12-month low of $114.74 and a 12-month high of $246.88. The company has a fifty day simple moving average of $160.31 and a two-hundred day simple moving average of $183.49.

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

Herc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.29%. This is a positive change from Herc’s previous quarterly dividend of $0.67. Herc’s dividend payout ratio is currently 37.79%.

Wall Street Analysts Forecast Growth

HRI has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of Herc from $234.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Citigroup initiated coverage on Herc in a research report on Monday, March 24th. They set a “buy” rating and a $165.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Herc has a consensus rating of “Moderate Buy” and an average target price of $202.20.

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.