Icahn Capital LP is Buying Herc Holdings Inc. (NYSE:HRI) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Herc Holdings Inc. (NYSE:HRI) reported that Icahn Capital LP has picked up 877,107 of common stock as of 2017-06-19.

The acquisition brings the aggregate amount owned by Icahn Capital LP to a total of 877,107 representing a 3.10% stake in the company.

For those not familiar with the company, 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. It operates through its Herc Rentals Inc. subsidiary. Its equipment rental business is supported by ProSolutions, its industry-specific solutions-based services, and its ProContractor Tools line. The ProContractor equipment line includes a range of tools, such as air compressors and tool, climate control, plumbing, care and surface preparation. The ProSolutions Industrial Services is a global operation providing an industrial line of products and services, including mobile tool rooms and asset management systems.

A glance at Herc Holdings Inc. (NYSE:HRI)’s key stats reveals a current market capitalization of $1.11  Billion based on $28.32 Million shares outstanding and a price at last close of $39.25 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-22, Dressel picked up 5,000 at a purchase price of $35.61. This brings their total holding to 38,902 as of the date of the filing.

On the sell side, the most recent transaction saw Taride unload 164,080 shares at a sale price of $14.30. This brings their total holding to 209,760.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Herc Holdings Inc. (NYSE:HRI) as things move forward to see if its progress aligns with these transactions.

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