Allianz Asset Management GmbH Raises Stock Holdings in Herc Holdings Inc. (NYSE:HRI)

Allianz Asset Management GmbH boosted its stake in Herc Holdings Inc. (NYSE:HRI) by 578.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 231,130 shares of the transportation company’s stock after buying an additional 197,082 shares during the period. Allianz Asset Management GmbH owned approximately 0.81% of Herc worth $43,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRI. Artemis Investment Management LLP purchased a new stake in Herc in the 4th quarter valued at about $71,211,000. Hennessy Advisors Inc. purchased a new stake in Herc in the 4th quarter valued at about $62,982,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Herc in the 3rd quarter valued at about $35,996,000. Franklin Resources Inc. grew its position in Herc by 117.3% in the 3rd quarter. Franklin Resources Inc. now owns 116,512 shares of the transportation company’s stock valued at $19,739,000 after acquiring an additional 62,883 shares in the last quarter. Finally, FMR LLC grew its position in Herc by 8.3% in the 3rd quarter. FMR LLC now owns 736,809 shares of the transportation company’s stock valued at $117,470,000 after acquiring an additional 56,191 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their target price 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $219.75.

Herc Stock Performance

NYSE HRI opened at $163.58 on Friday. The company has a market cap of $4.65 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.61 and a beta of 2.04. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a 50-day moving average of $195.08 and a two-hundred day moving average of $183.90. Herc Holdings Inc. has a 1-year low of $124.70 and a 1-year high of $246.88.

Herc (NYSE:HRI) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $3.58 EPS 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 company had revenue of $934.00 million for the quarter, compared to analyst estimates of $919.84 million. As a group, analysts anticipate that Herc Holdings Inc. will post 12.84 EPS for the current year.

Herc Increases Dividend

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

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.