Portolan Capital Management LLC Takes $7.54 Million Position in Generac Holdings Inc. $GNRC

Portolan Capital Management LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 45,031 shares of the technology company’s stock, valued at approximately $7,538,000. Portolan Capital Management LLC owned approximately 0.08% of Generac as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. MUFG Securities EMEA plc bought a new position in Generac during the second quarter valued at $25,000. First Horizon Corp purchased a new position in shares of Generac in the 3rd quarter worth $28,000. Sentry Investment Management LLC increased its holdings in shares of Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Generac in the 3rd quarter worth about $41,000. Finally, Red Tortoise LLC purchased a new stake in shares of Generac during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several recent research reports. Needham & Company LLC initiated coverage on Generac in a research report on Monday, January 12th. They issued a “buy” rating and a $211.00 price target for the company. Canaccord Genuity Group set a $275.00 price objective on Generac in a research report on Thursday, February 12th. Guggenheim reaffirmed a “neutral” rating and issued a $202.00 price objective on shares of Generac in a research note on Tuesday, February 10th. Bank of America dropped their target price on Generac from $236.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Finally, Stifel Nicolaus set a $235.00 target price on Generac in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $222.06.

Insiders Place Their Bets

In other news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Generac Trading Down 1.7%

GNRC opened at $200.59 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The stock’s 50 day moving average price is $191.17 and its 200-day moving average price is $174.49. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $241.09. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 74.85, a P/E/G ratio of 1.49 and a beta of 1.74.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $2.80 earnings per share. Generac’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.