Truvestments Capital LLC Makes New $80,000 Investment in Herc Holdings Inc. (NYSE:HRI)

Truvestments Capital LLC acquired a new stake in shares of Herc Holdings Inc. (NYSE:HRI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 504 shares of the transportation company’s stock, valued at approximately $80,000.

Several other hedge funds have also recently made changes to their positions in the company. Algert Global LLC grew its stake in Herc by 37.0% during the 3rd quarter. Algert Global LLC now owns 36,523 shares of the transportation company’s stock valued at $5,823,000 after purchasing an additional 9,860 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Herc by 191.1% during the third quarter. Citigroup Inc. now owns 27,858 shares of the transportation company’s stock worth $4,441,000 after purchasing an additional 18,289 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Herc by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 395,229 shares of the transportation company’s stock valued at $63,011,000 after buying an additional 23,411 shares during the last quarter. Foundry Partners LLC acquired a new position in Herc in the 3rd quarter worth approximately $4,889,000. Finally, Intech Investment Management LLC purchased a new position in Herc during the 3rd quarter worth approximately $1,001,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Herc Trading Up 1.0 %

HRI stock opened at $231.04 on Wednesday. The business’s 50-day moving average is $191.05 and its 200 day moving average is $157.81. Herc Holdings Inc. has a 12-month low of $119.08 and a 12-month high of $246.88. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.28 and a beta of 2.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89.

Herc (NYSE:HRI) last released its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.13). The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $931.33 million. Herc had a return on equity of 26.35% and a net margin of 10.09%. Herc’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.00 EPS. On average, sell-side analysts anticipate that Herc Holdings Inc. will post 13.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRI has been the topic of a number of research reports. Barclays increased their price objective on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Herc from $200.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their target price on Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $212.25.

Insider Transactions at Herc

In other Herc news, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the transaction, the director now directly owns 13,774 shares of the company’s stock, valued at $2,876,424.42. The trade was a 21.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Samuel Wade Sheek sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the completion of the transaction, the senior vice president now owns 21,586 shares in the company, valued at $4,600,408.32. This represents a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

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.