SCHEDULE: FMR LLC Boosts Stake in Herc Holdings to 11%

Sentiment:

Beneficial Ownership Report 8 January 2026 9:09 AM

FMR LLC and its affiliates, including Abigail P. Johnson, reported an 11.0% beneficial ownership stake in Herc Holdings Inc. as of December 31, 2025.

Summary

FMR LLC and Abigail P. Johnson, its Chairman and Chief Executive Officer, reported beneficial ownership of 3,665,603.31 shares of Herc Holdings Inc. common stock.
This represents an 11.0% stake in the company's common stock.
FMR LLC holds sole voting power over 3,649,624.00 shares and sole dispositive power over 3,665,603.31 shares.
Abigail P. Johnson holds sole dispositive power over 3,665,603.31 shares.
The filing is an Amendment No. 2 to a Schedule 13G, indicating a change from a previous filing.
The ownership is held in the ordinary course of business and not for the purpose of changing or influencing control of Herc Holdings Inc.
Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as relevant entities, with Fidelity Management & Research Company LLC beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing indicates a significant and continued institutional investment by FMR LLC in Herc Holdings Inc., which is generally a positive signal of confidence from a major asset manager. The certification that the shares are held in the ordinary course of business and not for control purposes also suggests a stable, long-term investment.

Positives

Increased institutional ownership by a major investment firm like FMR LLC can signal confidence in Herc Holdings Inc.'s long-term prospects.
The significant stake (11.0%) suggests a substantial commitment from FMR LLC.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Herc Holdings Inc.'s future performance or operations.

Management Comments

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

FMR LLC, a prominent global asset manager, increasing its stake in Herc Holdings Inc. suggests a positive view on the equipment rental industry or Herc's specific market position. This move aligns with institutional investors seeking exposure to sectors with stable demand and potential for infrastructure-related growth.

Comparison to Industry Standards

An 11.0% stake by a major institutional investor like FMR LLC is a significant position, often indicating a long-term investment horizon rather than short-term trading.
Compared to other large institutional holdings in the equipment rental sector, such a stake is substantial and places FMR LLC among the top shareholders, similar to how other major asset managers like BlackRock or Vanguard hold significant passive stakes in large-cap companies.

Stakeholder Impact

Shareholders: Increased institutional ownership may enhance investor confidence and potentially improve stock liquidity.
Management: A significant institutional shareholder like FMR LLC may exert influence through voting rights, though the filing states the shares are not held for control purposes.

Key Dates

Date	Description
2023-01-03	Effective date of Power of Attorney for FMR LLC.
2023-01-10	Date of Schedule 13G filing by FMR LLC (accession number: -23-000003) where Power of Attorney is incorporated by reference.
2023-01-26	Effective date of Power of Attorney for Abigail P. Johnson.
2023-01-31	Date of Schedule 13G filing by FMR LLC (accession number: -23-000038) where Abigail P. Johnson's Power of Attorney is incorporated by reference.
2025-12-31	Date of event which requires filing of this statement (reporting period end date).
2026-01-07	Date of joint filing agreement and signature date for this Schedule 13G.

Recommendation

hold

The filing indicates a substantial 11.0% beneficial ownership by FMR LLC, a major institutional investor, in Herc Holdings Inc. This significant stake, held in the ordinary course of business, suggests confidence in the company's long-term value proposition. While this is a positive signal, a Schedule 13G primarily reports ownership and does not provide detailed financial or operational updates. Therefore, for a seasoned investor, this filing reinforces a 'hold' position for existing shareholders and prompts further fundamental analysis of Herc Holdings Inc.'s performance and market conditions before making a 'buy' decision.

Keywords

Herc Holdings Inc., HERC, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment Management

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