Herc Holdings (HR) completed its spinoff from Hertz Global Holdings (HTZ) , and began trading on the New York Stock Exchange Friday. Operating as Herc Rentals, the company is one of the leading equipment rental companies in North America. Larry Silber, the company's president and CEO, says Herc wants to expand into urban centers, renting equipment for building construction and refurbishing.  The company also launched a new app that allows customers to rent equipment and have it delivered. Silber said the sharing economy is also playing out in the equipment rental business, with a move toward more equipment rentals rather than ownership.

More from Video

Jim Cramer: Be Careful in the Cannabis Stocks

Jim Cramer: Be Careful in the Cannabis Stocks

What Investors Should Know About Closed-End Funds or CEFs

What Investors Should Know About Closed-End Funds or CEFs

Biotech and Broadway Come Together to Fight Cancer

Biotech and Broadway Come Together to Fight Cancer

Market Movers: September Grain Stocks Report

Market Movers: September Grain Stocks Report

We Asked Our Pros About the Longevity of the Bull Market

We Asked Our Pros About the Longevity of the Bull Market