Heartland Advisors Inc. Takes Position in Generac Holdings Inc. $GNRC

Heartland Advisors Inc. bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 36,172 shares of the technology company’s stock, valued at approximately $6,055,000. Heartland Advisors Inc. owned about 0.06% of Generac at the end of the most recent reporting period.

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

Generac Price Performance

NYSE GNRC opened at $233.11 on Wednesday. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $236.00. The firm’s 50 day moving average is $164.15 and its 200-day moving average is $171.06. The company has a market capitalization of $13.68 billion, a PE ratio of 86.98, a price-to-earnings-growth ratio of 1.66 and a beta of 1.85. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on GNRC. Zacks Research downgraded Generac from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. TD Cowen boosted their price objective on Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Bank of America reduced their target price on shares of Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Roth Mkm reiterated a “neutral” rating and set a $220.00 price target on shares of Generac in a research report on Thursday, February 12th. Finally, Citigroup upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective on the stock in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.19.

Generac 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.