Fintel reports that Icahn has filed a 13D/A form with the SEC disclosing ownership of 2.93MM shares of Herc Holdings Inc (HRI). This represents 10.02% of the company.

In their previous filing dated January 27, 2023 they reported 3.34MM shares and 11.40% of the company, a decrease in shares of 12.12% and a decrease in total ownership of 1.38% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 10.54% Upside

As of February 9, 2023, the average one-year price target for Herc Holdings is $173.27. The forecasts range from a low of $131.30 to a high of $256.20. The average price target represents an increase of 10.54% from its latest reported closing price of $156.75.

The projected annual revenue for Herc Holdings is $3,310MM, an increase of 30.79%. The projected annual EPS is $13.89, an increase of 36.01%.

What is the Fund Sentiment?

There are 543 funds or institutions reporting positions in Herc Holdings. This is a decrease of 37 owner(s) or 6.38% in the last quarter. Average portfolio weight of all funds dedicated to HRI is 0.29%, an increase of 9.52%. Total shares owned by institutions increased in the last three months by 0.79% to 35,528K shares. The put/call ratio of HRI is 1.06, indicating a bearish outlook.

What are large shareholders doing?

Alliancebernstein holds 2,151K shares representing 7.35% ownership of the company. In it’s prior filing, the firm reported owning 2,144K shares, representing an increase of 0.32%. The firm increased its portfolio allocation in HRI by 22.54% over the last quarter.

GAMCO Investors, Inc. Et Al holds 1,883K shares representing 6.44% ownership of the company. In it’s prior filing, the firm reported owning 1,913K shares, representing a decrease of 1.58%. The firm increased its portfolio allocation in HRI by 21.84% over the last quarter.

Invesco holds 1,426K shares representing 4.87% ownership of the company. In it’s prior filing, the firm reported owning 1,340K shares, representing an increase of 6.02%. The firm increased its portfolio allocation in HRI by 30.25% over the last quarter.

Franklin Resources holds 1,169K shares representing 3.99% ownership of the company. In it’s prior filing, the firm reported owning 849K shares, representing an increase of 27.33%. The firm increased its portfolio allocation in HRI by 74.25% over the last quarter.

Wellington Management Group Llp holds 889K shares representing 3.04% ownership of the company. In it’s prior filing, the firm reported owning 98K shares, representing an increase of 88.99%. The firm increased its portfolio allocation in HRI by 1,007.12% over the last quarter.

Herc Holdings Background Information
(This description is provided by the company.)

Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with 277 locations in North America. With over 55 years of experience, Herc Holdings is a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Herc Holdings’s classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. The Company’s equipment rental business is supported by ProSolutionsR, its industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and its ProContractor professional grade tools. Herc Holdings’s product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 4,800 employees who equip ouritsrevenues were approximately $1.8 billion. All references to ‘Herc Holdings’ or the ‘Company’ in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated.

This article originally appeared on Fintel

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