Mackenzie Financial Corp Decreases Position in Herc Holdings Inc. (HRI)

Mackenzie Financial Corp lowered its position in shares of Herc Holdings Inc. (NYSE:HRI) by 73.3% during the first quarter, Holdings Channel reports. The firm owned 17,750 shares of the transportation company’s stock after selling 48,650 shares during the period. Mackenzie Financial Corp’s holdings in Herc Holdings were worth $868,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HRI. Primecap Management Co. CA boosted its stake in Herc Holdings by 2.6% in the first quarter. Primecap Management Co. CA now owns 379,440 shares of the transportation company’s stock worth $18,551,000 after buying an additional 9,448 shares during the period. ACK Asset Management LLC purchased a new stake in Herc Holdings during the first quarter worth about $3,506,000. Utah Retirement Systems purchased a new stake in Herc Holdings during the first quarter worth about $214,000. Segantii Capital Management Ltd purchased a new stake in Herc Holdings during the first quarter worth about $154,000. Finally, Laurion Capital Management LP purchased a new stake in Herc Holdings during the first quarter worth about $1,130,000. Institutional investors own 96.72% of the company’s stock.

Institutional Ownership by Quarter for Herc Holdings (NYSE:HRI)

Shares of Herc Holdings Inc. (NYSE:HRI) traded down 5.22% on Tuesday, hitting $37.20. 169,248 shares of the stock were exchanged. Herc Holdings Inc. has a one year low of $28.66 and a one year high of $531.30. The company has a 50-day moving average price of $39.79 and a 200-day moving average price of $44.31. The firm’s market capitalization is $1.05 billion.

Herc Holdings (NYSE:HRI) last announced its earnings results on Tuesday, May 9th. The transportation company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.32) by $0.78. The company had revenue of $389.40 million for the quarter, compared to the consensus estimate of $366.74 million. Herc Holdings had a negative return on equity of 7.69% and a negative net margin of 3.69%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Herc Holdings Inc. will post ($0.62) earnings per share for the current year.

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A number of research analysts have recently commented on the stock. KeyCorp raised shares of Herc Holdings from a “sector weight” rating to an “overweight” rating and set a $60.00 price objective for the company in a research report on Monday, April 10th. Zacks Investment Research lowered shares of Herc Holdings from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 4th. Northcoast Research raised shares of Herc Holdings from a “neutral” rating to a “buy” rating in a research report on Thursday, April 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price objective on shares of Herc Holdings in a research report on Thursday, April 13th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $46.00 price objective on shares of Herc Holdings in a research report on Friday, March 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $48.83.

In related news, COO James Bruce Dressel bought 5,000 shares of Herc Holdings stock in a transaction that occurred on Monday, May 22nd. The stock was acquired at an average price of $35.61 per share, with a total value of $178,050.00. Following the acquisition, the chief operating officer now owns 38,902 shares of the company’s stock, valued at approximately $1,385,300.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

About Herc Holdings

Herc Holdings Inc is an equipment rental supplier. The Company operates approximately 280 branches, of which approximately 270 are in the United States and Canada. It supplies equipment to the markets, including commercial and residential construction, industrial and manufacturing, refineries and petrochemicals, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture.

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