Herc Holdings Inc. (NYSE:HRI – Get Rating) declared a quarterly dividend on Monday, August 8th, Wall Street Journal reports. Shareholders of record on Friday, August 19th will be given a dividend of 0.575 per share by the transportation company on Friday, September 2nd. This represents a $2.30 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 18th.
Herc has a payout ratio of 16.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Herc to earn $14.05 per share next year, which means the company should continue to be able to cover its $2.30 annual dividend with an expected future payout ratio of 16.4%.
Herc Trading Up 0.2 %
Shares of Herc stock traded up $0.27 during trading on Monday, reaching $123.47. The company’s stock had a trading volume of 273,806 shares, compared to its average volume of 287,280. Herc has a 52-week low of $83.43 and a 52-week high of $203.14. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.44 and a beta of 2.71. The firm’s 50-day moving average is $103.70 and its two-hundred day moving average is $130.40. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.45.
Herc (NYSE:HRI – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The transportation company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.15). Herc had a net margin of 11.76% and a return on equity of 28.42%. The business had revenue of $640.40 million during the quarter, compared to analysts’ expectations of $631.11 million. During the same period last year, the company posted $1.57 EPS. Herc’s revenue for the quarter was up 30.6% on a year-over-year basis. On average, sell-side analysts anticipate that Herc will post 11.67 earnings per share for the current year.
Analysts Set New Price Targets
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A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Herc to $165.00 in a research note on Friday, July 22nd. KeyCorp decreased their price objective on shares of Herc from $155.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Robert W. Baird decreased their price objective on shares of Herc from $161.00 to $158.00 in a report on Thursday, April 21st. Finally, The Goldman Sachs Group reduced their target price on shares of Herc from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.00.
Insider Activity at Herc
In other news, CFO Mark Irion acquired 218 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average cost of $116.88 per share, with a total value of $25,479.84. Following the transaction, the chief financial officer now owns 51,714 shares of the company’s stock, valued at approximately $6,044,332.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.
Institutional Trading of Herc
Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of Herc by 60.9% during the 1st quarter. Raymond James & Associates now owns 10,319 shares of the transportation company’s stock valued at $1,724,000 after acquiring an additional 3,904 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Herc by 90.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 315 shares of the transportation company’s stock valued at $52,000 after acquiring an additional 150 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Herc by 52.6% during the 1st quarter. MetLife Investment Management LLC now owns 13,202 shares of the transportation company’s stock valued at $2,206,000 after acquiring an additional 4,549 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Herc by 3.3% during the 1st quarter. Rhumbline Advisers now owns 28,368 shares of the transportation company’s stock valued at $4,740,000 after acquiring an additional 900 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of Herc in the 1st quarter worth approximately $2,238,000.
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.
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