Gallacher Capital Management LLC Takes Position in Herc Holdings Inc. (NYSE:HRI)

Gallacher Capital Management LLC bought a new position in Herc Holdings Inc. (NYSE:HRI) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,382 shares of the transportation company’s stock, valued at approximately $584,000.

Other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. bought a new stake in Herc in the 2nd quarter worth approximately $4,556,000. Cannon Global Investment Management LLC bought a new stake in Herc in the second quarter worth $333,000. Rhumbline Advisers increased its position in Herc by 2.9% in the second quarter. Rhumbline Advisers now owns 43,234 shares of the transportation company’s stock worth $5,763,000 after purchasing an additional 1,225 shares during the last quarter. Versor Investments LP purchased a new stake in Herc during the second quarter valued at $906,000. Finally, Hantz Financial Services Inc. bought a new position in Herc during the second quarter valued at $433,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Herc

In other news, SVP Tamir Peres sold 5,821 shares of Herc stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total transaction of $925,713.63. Following the completion of the sale, the senior vice president now directly owns 35,415 shares in the company, valued at $5,632,047.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Aaron Birnbaum sold 10,000 shares of Herc stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $146.71, for a total transaction of $1,467,100.00. Following the completion of the sale, the chief operating officer now owns 38,232 shares of the company’s stock, valued at $5,609,016.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tamir Peres sold 5,821 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $159.03, for a total value of $925,713.63. Following the completion of the transaction, the senior vice president now directly owns 35,415 shares in the company, valued at approximately $5,632,047.45. The disclosure for this sale can be found here. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Herc in a report on Friday, June 7th. They issued a “neutral” rating and a $155.00 target price on the stock. Robert W. Baird reissued a “neutral” rating and set a $155.00 price objective on shares of Herc in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered Herc from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $159.50.

Herc Trading Down 2.1 %

Shares of HRI opened at $132.07 on Friday. Herc Holdings Inc. has a twelve month low of $100.17 and a twelve month high of $171.00. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.91. The company’s fifty day simple moving average is $139.36 and its 200-day simple moving average is $147.15. The company has a market cap of $3.75 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.89 and a beta of 2.07.

Herc (NYSE:HRI) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.34). Herc had a return on equity of 26.99% and a net margin of 10.00%. The firm had revenue of $848.00 million during the quarter, compared to analysts’ expectations of $813.05 million. As a group, analysts expect that Herc Holdings Inc. will post 13.68 EPS for the current year.

Herc Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, August 22nd. Herc’s payout ratio is currently 21.97%.

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.