Wed Sep 25 07:56:51 UTC 2024: ## New Jersey Pension Fund Cuts Herc Holdings Stake, Other Funds Show Interest

**[City, State] – September 25th, 2024** – The State of New Jersey Common Pension Fund D trimmed its stake in Herc Holdings Inc. (NYSE: HRI) by 27.4% in the second quarter, according to the fund’s recent SEC filing. The fund now holds 13,395 shares of the transportation equipment rental company, valued at $1,785,000.

This move comes amidst a flurry of activity from other hedge funds regarding HRI. Several funds, including Headlands Technologies LLC, EverSource Wealth Advisors LLC, and Allspring Global Investments Holdings LLC, acquired new positions or increased their holdings in Herc during the first and second quarters. Massmutual Trust Co. FSB ADV and Qsemble Capital Management LP also acquired new positions in the first quarter.

Herc Holdings Inc. opened at $158.49 on Wednesday, with a market cap of $4.50 billion. The company recently declared a quarterly dividend of $0.665 per share, representing an annualized yield of 1.68%.

Analysts are currently mixed on HRI. StockNews.com downgraded the stock from “buy” to “hold,” while JPMorgan Chase & Co. initiated coverage with a “neutral” rating. Robert W. Baird also maintained a “neutral” rating. The stock currently has a consensus rating of “Hold” and an average target price of $159.50.

Meanwhile, Herc’s COO, Aaron Birnbaum, sold 10,000 shares of the company’s stock in a transaction dated August 26th, while SVP Tamir Peres sold 5,821 shares on July 31st.

Overall, while New Jersey’s pension fund reduced its stake in Herc, other institutional investors and hedge funds are actively participating in the company, indicating potential interest in its future performance.

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