King Luther Capital Management Corp grew its holdings in Generac Holdings Inc. (NYSE:GNRC) by 2.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 833,961 shares of the technology company’s stock after purchasing an additional 20,000 shares during the period. King Luther Capital Management Corp’s holdings in Generac were worth $47,044,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group grew its stake in shares of Generac by 516.6% in the second quarter. Schroder Investment Management Group now owns 2,234,073 shares of the technology company’s stock valued at $81,625,000 after buying an additional 1,871,776 shares in the last quarter. BlackRock Inc. grew its stake in shares of Generac by 14.5% in the second quarter. BlackRock Inc. now owns 4,838,216 shares of the technology company’s stock valued at $250,281,000 after buying an additional 614,112 shares in the last quarter. Janus Henderson Group PLC boosted its position in Generac by 32.8% during the second quarter. Janus Henderson Group PLC now owns 1,874,526 shares of the technology company’s stock worth $96,969,000 after purchasing an additional 463,226 shares during the period. Atlanta Capital Management Co. L L C bought a new position in Generac during the third quarter worth $24,238,000. Finally, Redwood Investments LLC bought a new position in Generac during the second quarter worth $19,363,000. Institutional investors own 94.88% of the company’s stock.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $56.47, for a total transaction of $1,129,400.00. Following the completion of the sale, the chief executive officer now owns 787,471 shares of the company’s stock, valued at $44,468,487.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick John Forsythe sold 45,150 shares of Generac stock in a transaction on Friday, September 14th. The stock was sold at an average price of $57.05, for a total value of $2,575,807.50. Following the sale, the executive vice president now directly owns 25,835 shares of the company’s stock, valued at approximately $1,473,886.75. The disclosure for this sale can be found here. Insiders have sold 141,150 shares of company stock valued at $7,829,448 in the last three months. Insiders own 3.00% of the company’s stock.
GNRC opened at $52.41 on Thursday. Generac Holdings Inc. has a fifty-two week low of $42.96 and a fifty-two week high of $60.70. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.88 and a quick ratio of 0.98. The firm has a market cap of $3.25 billion, a PE ratio of 15.41, a PEG ratio of 1.73 and a beta of 1.35.
Generac (NYSE:GNRC) last posted its earnings results on Thursday, November 1st. The technology company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.35. Generac had a return on equity of 47.44% and a net margin of 12.45%. The company had revenue of $559.52 million during the quarter, compared to the consensus estimate of $502.94 million. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. On average, sell-side analysts predict that Generac Holdings Inc. will post 4.66 EPS for the current year.
A number of research firms have commented on GNRC. Canaccord Genuity lifted their price objective on shares of Generac from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. KeyCorp lifted their price objective on shares of Generac from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. ValuEngine raised shares of Generac from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Goldman Sachs Group raised shares of Generac from a “sell” rating to a “neutral” rating in a research report on Thursday, October 18th. Finally, Robert W. Baird lifted their price objective on shares of Generac from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $56.98.
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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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