NEW YORK (TheStreet) -In today's environment, with the market at new highs and a tempered recovery continuing, the individual companies that are winning are the ones taking their fate into their own hands.
Hertz (HTZ) has epitomized this. After all, it is one of the key reasons the industry is so consolidated, having acquired Dollar Thrifty in 2012. This increased its scale, cut costs, and further solidified pricing power.
The decision to spin off the rental equipment business comes just as that market is making a cyclical upswing (I like United Rentals (URI) for example) and allows the company to focus on its core business.
Companies taking their fate into their own hands and taking bold actions are seeing associated surges in their share price as well. Hertz remains a winner--and the value created by the spin off is an additional plus.
--Written by Nicole Urken in New York.
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