Rhumbline Advisers reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 14.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 60,084 shares of the technology company’s stock after selling 10,228 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Generac worth $2,975,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Aperio Group LLC bought a new stake in shares of Generac during the third quarter valued at approximately $267,000. Raymond James Financial Services Advisors Inc. bought a new stake in Generac in the third quarter valued at $529,000. Principal Financial Group Inc. grew its position in Generac by 23.3% in the third quarter. Principal Financial Group Inc. now owns 10,559 shares of the technology company’s stock valued at $485,000 after acquiring an additional 1,996 shares during the period. Alps Advisors Inc. bought a new stake in Generac in the third quarter valued at $498,000. Finally, Sei Investments Co. grew its position in Generac by 17.0% in the third quarter. Sei Investments Co. now owns 131,154 shares of the technology company’s stock valued at $6,023,000 after acquiring an additional 19,054 shares during the period.
In other Generac news, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $44.11, for a total value of $882,200.00. Following the completion of the sale, the chief executive officer now directly owns 946,463 shares in the company, valued at $41,748,482.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 60,000 shares of company stock valued at $2,747,600 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
NYSE GNRC traded down $0.91 on Friday, reaching $45.30. The company had a trading volume of 298,530 shares, compared to its average volume of 444,561. The company has a market capitalization of $2,823.37, a PE ratio of 13.32, a P/E/G ratio of 1.96 and a beta of 1.55. The company has a current ratio of 2.10, a quick ratio of 1.13 and a debt-to-equity ratio of 1.62. Generac Holdings Inc. has a 52 week low of $33.77 and a 52 week high of $53.78.
Generac (NYSE:GNRC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Generac had a return on equity of 45.26% and a net margin of 9.53%. The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $475.15 million. During the same period in the prior year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. sell-side analysts predict that Generac Holdings Inc. will post 3.56 earnings per share for the current fiscal year.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and issued a $52.00 price objective on shares of Generac in a research note on Wednesday, February 14th. Bank of America reissued a “buy” rating and issued a $49.84 price objective (down previously from $58.00) on shares of Generac in a research note on Monday, February 12th. Goldman Sachs reduced their price objective on Generac from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, February 15th. Finally, SunTrust Banks upped their price target on Generac from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Generac presently has an average rating of “Hold” and a consensus target price of $52.11.
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Generac Company Profile
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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