Zacks Investment Management acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,105 shares of the technology company’s stock, valued at approximately $1,092,000.
A number of other large investors have also bought and sold shares of GNRC. Financial Gravity Wealth Inc. bought a new stake in Generac during the first quarter worth about $212,000. Stevens Capital Management LP bought a new stake in Generac during the first quarter worth about $213,000. Point72 Asia Hong Kong Ltd bought a new stake in Generac during the first quarter worth about $242,000. Alambic Investment Management L.P. bought a new stake in Generac during the first quarter worth about $266,000. Finally, Strs Ohio boosted its stake in Generac by 30.0% during the second quarter. Strs Ohio now owns 5,200 shares of the technology company’s stock worth $268,000 after acquiring an additional 1,200 shares in the last quarter. 97.82% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on GNRC shares. Robert W. Baird lowered shares of Generac from an “outperform” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research note on Thursday, May 24th. Zacks Investment Research lowered shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, July 5th. Goldman Sachs Group downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research note on Monday, July 16th. Canaccord Genuity set a $54.00 target price on shares of Generac and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Finally, KeyCorp reiterated a “buy” rating and issued a $60.00 target price on shares of Generac in a research note on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.23.
In other news, EVP Patrick John Forsythe sold 45,150 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $57.05, for a total value of $2,575,807.50. Following the transaction, the executive vice president now owns 25,835 shares in the company, valued at $1,473,886.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $51.34, for a total transaction of $1,026,800.00. Following the transaction, the chief executive officer now owns 883,571 shares in the company, valued at approximately $45,362,535.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,150 shares of company stock worth $6,294,548. Insiders own 3.00% of the company’s stock.
Shares of NYSE GNRC opened at $57.57 on Monday. The company has a market capitalization of $3.60 billion, a PE ratio of 16.93, a PEG ratio of 2.17 and a beta of 1.45. Generac Holdings Inc. has a 52-week low of $42.96 and a 52-week high of $60.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 1.94.
Generac (NYSE:GNRC) last issued its earnings results on Wednesday, August 1st. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.20. The firm had revenue of $494.90 million for the quarter, compared to the consensus estimate of $448.41 million. Generac had a net margin of 11.18% and a return on equity of 46.62%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. research analysts anticipate that Generac Holdings Inc. will post 4.13 earnings per share for the current year.
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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