Cubist Systematic Strategies LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,191 shares of the technology company’s stock after purchasing an additional 2,776 shares during the period. Cubist Systematic Strategies LLC’s holdings in Generac were worth $697,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in Generac during the fourth quarter valued at approximately $190,000. Capital Fund Management S.A. acquired a new stake in Generac during the fourth quarter valued at approximately $208,000. Stevens Capital Management LP acquired a new stake in Generac during the first quarter valued at approximately $213,000. Prime Capital Investment Advisors LLC acquired a new stake in Generac during the fourth quarter valued at approximately $243,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Generac during the first quarter valued at approximately $266,000. 97.86% of the stock is owned by institutional investors and hedge funds.
GNRC has been the topic of a number of recent analyst reports. Robert W. Baird lowered shares of Generac from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a report on Thursday, May 24th. SunTrust Banks boosted their price target on shares of Generac from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 28th. Canaccord Genuity set a $54.00 price target on shares of Generac and gave the company a “hold” rating in a report on Sunday, March 4th. Zacks Investment Research upgraded shares of Generac from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, May 4th. Finally, ValuEngine lowered shares of Generac from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.73.
Generac stock opened at $50.03 on Tuesday. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 2.07 and a beta of 1.55. The company has a current ratio of 2.10, a quick ratio of 1.04 and a debt-to-equity ratio of 1.59. Generac Holdings Inc. has a twelve month low of $35.18 and a twelve month high of $53.78.
Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, May 2nd. The technology company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The firm had revenue of $397.60 million for the quarter, compared to analyst estimates of $390.66 million. Generac had a net margin of 10.37% and a return on equity of 45.91%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. equities research analysts forecast that Generac Holdings Inc. will post 3.75 earnings per share for the current year.
In other Generac news, CEO Aaron Jagdfeld sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $50.40, for a total value of $1,008,000.00. Following the transaction, the chief executive officer now owns 903,571 shares in the company, valued at approximately $45,539,978.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Russell S. Minick sold 14,662 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $51.53, for a total transaction of $755,532.86. Following the completion of the transaction, the insider now owns 25,353 shares in the company, valued at approximately $1,306,440.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,662 shares of company stock worth $2,658,133. Company insiders own 3.00% of the company’s stock.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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