Northern Trust Corp reduced its holdings in shares of Generac Holdlings Inc. (NYSE:GNRC) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 832,791 shares of the technology company’s stock after selling 11,399 shares during the period. Northern Trust Corp owned about 1.33% of Generac Holdlings worth $30,089,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GNRC. BlackRock Inc. grew its position in Generac Holdlings by 13,069.4% during the first quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock valued at $155,006,000 after acquiring an additional 4,126,286 shares during the last quarter. EdgePoint Investment Group Inc. grew its position in Generac Holdlings by 13.9% during the second quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock valued at $317,060,000 after acquiring an additional 1,069,401 shares during the last quarter. Shapiro Capital Management LLC bought a new position in Generac Holdlings during the second quarter valued at approximately $37,696,000. JPMorgan Chase & Co. grew its position in Generac Holdlings by 29.0% during the second quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock valued at $82,893,000 after acquiring an additional 515,905 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Generac Holdlings by 55.1% during the second quarter. Lazard Asset Management LLC now owns 928,693 shares of the technology company’s stock valued at $33,553,000 after acquiring an additional 330,016 shares during the last quarter. Institutional investors and hedge funds own 97.07% of the company’s stock.
Shares of Generac Holdlings Inc. (NYSE GNRC) opened at 51.98 on Friday. The company has a 50-day moving average price of $47.16 and a 200-day moving average price of $39.16. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 31.05 and a beta of 1.41. Generac Holdlings Inc. has a 52 week low of $33.77 and a 52 week high of $52.16.
Generac Holdlings (NYSE:GNRC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The firm had revenue of $395.40 million for the quarter, compared to the consensus estimate of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts anticipate that Generac Holdlings Inc. will post $3.02 EPS for the current year.
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In other Generac Holdlings news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $40.44, for a total value of $202,200.00. Following the transaction, the chief executive officer now owns 1,039,911 shares of the company’s stock, valued at approximately $42,054,000.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 15,000 shares of company stock worth $619,400 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on GNRC. BidaskClub upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet raised Generac Holdlings from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Canaccord Genuity increased their price objective on Generac Holdlings from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday. Zacks Investment Research raised Generac Holdlings from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus increased their price objective on Generac Holdlings from $41.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, October 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $51.86.
About Generac Holdlings
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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