Cornerstone Investment Partners LLC Acquires New Shares in Herc Holdings Inc. (NYSE:HRI)

Cornerstone Investment Partners LLC acquired a new stake in Herc Holdings Inc. (NYSE:HRI) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,312 shares of the transportation company’s stock, valued at approximately $248,000.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in Herc by 878.9% in the 4th quarter. Jones Financial Companies Lllp now owns 186 shares of the transportation company’s stock valued at $35,000 after buying an additional 167 shares in the last quarter. Covestor Ltd boosted its holdings in 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 purchasing an additional 133 shares during the period. Farther Finance Advisors LLC boosted its holdings in Herc by 369.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 343 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 270 shares during the period. Truvestments Capital LLC bought a new position in Herc in the 3rd quarter valued at $80,000. Finally, Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 626 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Herc presently has an average rating of “Hold” and an average price target of $219.75.

Herc Stock Performance

Herc stock opened at $135.35 on Tuesday. 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 company has a market capitalization of $3.85 billion, a PE ratio of 18.27, a P/E/G ratio of 1.61 and a beta of 2.04. The firm has a fifty day simple moving average of $189.76 and a two-hundred day simple moving average of $185.20. Herc Holdings Inc. has a twelve month low of $124.70 and a twelve month high of $246.88.

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

Herc Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.70 dividend. This is a boost from Herc’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. Herc’s payout ratio is presently 37.79%.

Herc 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.