Harvey Capital Management Inc. Sells 3,147 Shares of Herc Holdings Inc. (NYSE:HRI)

Harvey Capital Management Inc. reduced its position in Herc Holdings Inc. (NYSE:HRI) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,508 shares of the transportation company’s stock after selling 3,147 shares during the quarter. Harvey Capital Management Inc. owned approximately 0.07% of Herc worth $3,883,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Signaturefd LLC lifted its stake in Herc by 27.7% in the third quarter. Signaturefd LLC now owns 281 shares of the transportation company’s stock valued at $45,000 after buying an additional 61 shares during the period. Covestor Ltd increased its stake in shares of Herc by 70.4% in the 3rd quarter. Covestor Ltd now owns 322 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 133 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Herc by 369.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC boosted its stake in Herc by 704.2% during the third quarter. GAMMA Investing LLC now owns 386 shares of the transportation company’s stock worth $62,000 after acquiring an additional 338 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Herc in the third quarter worth $80,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of Herc from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, 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 report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Herc currently has a consensus rating of “Hold” and an average price target of $219.75.

Herc Trading Up 2.1 %

NYSE:HRI opened at $206.98 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.22 and a quick ratio of 1.22. Herc Holdings Inc. has a one year low of $124.70 and a one year high of $246.88. The company has a market cap of $5.88 billion, a PE ratio of 16.92, a PEG ratio of 1.08 and a beta of 2.04. The firm has a 50-day moving average of $200.37 and a 200-day moving average of $181.62.

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 paid a $0.70 dividend. 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 annualized dividend and a dividend yield of 1.35%. Herc’s dividend payout ratio is 21.75%.

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.