108,243 Shares in Herc Holdings Inc. (NYSE:HRI) Bought by Cartenna Capital LP

Cartenna Capital LP bought a new stake in Herc Holdings Inc. (NYSE:HRI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 108,243 shares of the transportation company’s stock, valued at approximately $20,494,000. Herc comprises approximately 1.0% of Cartenna Capital LP’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds have also made changes to their positions in the company. Capital World Investors boosted its position in shares of Herc by 435.8% in the 4th quarter. Capital World Investors now owns 1,419,015 shares of the transportation company’s stock worth $268,662,000 after buying an additional 1,154,182 shares in the last quarter. Norges Bank acquired a new position in Herc during the fourth quarter worth about $183,786,000. FMR LLC raised its position in Herc by 69.0% during the fourth quarter. FMR LLC now owns 1,245,168 shares of the transportation company’s stock worth $235,748,000 after acquiring an additional 508,359 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Herc in the fourth quarter valued at about $71,211,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Herc in the fourth quarter valued at approximately $62,982,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HRI. Citigroup cut their price objective on Herc from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on Herc from $225.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group restated a “buy” rating and issued a $146.00 price objective (down from $171.00) on shares of Herc in a research report on Tuesday. Finally, Robert W. Baird dropped their price objective on Herc from $129.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.20.

Herc Trading Up 2.5 %

Shares of HRI opened at $104.87 on Thursday. Herc Holdings Inc. has a fifty-two week low of $96.19 and a fifty-two week high of $246.88. The company has a market capitalization of $2.99 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.93. The stock has a fifty day moving average of $134.13 and a two-hundred day moving average of $179.09. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.38 and a current ratio of 1.38.

Herc (NYSE:HRI) last released its earnings results on Tuesday, April 22nd. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $2.51 by ($1.21). Herc had a net margin of 5.91% and a return on equity of 26.48%. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $841.67 million. During the same quarter in the previous year, the company posted $2.36 earnings per share. As a group, analysts forecast 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 was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.70 per share. This is a positive change from Herc’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, February 18th. Herc’s dividend payout ratio is presently 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.