Kornitzer Capital Management Inc. KS lessened its stake in Generac Holdings Inc. (NYSE:GNRC) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,655 shares of the technology company’s stock after selling 765 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.21% of Generac worth $8,930,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Investec Asset Management North America Inc. raised its stake in Generac by 15.9% in the first quarter. Investec Asset Management North America Inc. now owns 31,056 shares of the technology company’s stock valued at $1,591,000 after purchasing an additional 4,265 shares in the last quarter. Wakefield Asset Management LLLP raised its stake in Generac by 38.7% in the first quarter. Wakefield Asset Management LLLP now owns 12,068 shares of the technology company’s stock valued at $618,000 after purchasing an additional 3,366 shares in the last quarter. Federated Investors Inc. PA raised its stake in Generac by 3.5% in the first quarter. Federated Investors Inc. PA now owns 302,251 shares of the technology company’s stock valued at $15,484,000 after purchasing an additional 10,361 shares in the last quarter. Kendall Capital Management acquired a new position in Generac in the first quarter valued at about $418,000. Finally, WINTON GROUP Ltd acquired a new position in Generac in the second quarter valued at about $520,000. 94.54% of the stock is owned by institutional investors and hedge funds.
GNRC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, August 6th. Bank of America reiterated a “buy” rating and issued a $83.00 target price (up previously from $75.00) on shares of Generac in a research report on Thursday, June 27th. Northcoast Research upgraded Generac from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 3rd. ValuEngine cut Generac from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upgraded Generac from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $64.00 to $86.00 in a research report on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Generac presently has a consensus rating of “Buy” and a consensus target price of $73.83.
Generac stock traded down $1.26 during midday trading on Wednesday, reaching $72.00. The company’s stock had a trading volume of 17,601 shares, compared to its average volume of 396,804. The firm has a market cap of $4.55 billion, a PE ratio of 15.40, a PEG ratio of 2.38 and a beta of 1.23. The company has a current ratio of 2.19, a quick ratio of 1.00 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average is $71.31. Generac Holdings Inc. has a 52 week low of $45.43 and a 52 week high of $73.88.
Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The company had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $538.96 million. Generac had a return on equity of 38.99% and a net margin of 12.09%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 4.73 EPS for the current fiscal year.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $55.86, for a total transaction of $1,117,200.00. Following the sale, the chief executive officer now directly owns 681,043 shares in the company, valued at $38,043,061.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Erik Wilde sold 7,587 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total value of $542,015.28. Following the sale, the executive vice president now owns 11,196 shares in the company, valued at $799,842.24. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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.
Featured Story: How Investors Can Profit from Options Trading
Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC).
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.