Olstein Capital Management L.P. bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, Holdings Channel reports. The firm bought 135,000 shares of the technology company’s stock, valued at approximately $6,984,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. BlackRock Inc. raised its stake in shares of Generac by 7.4% during the 1st quarter. BlackRock Inc. now owns 4,224,104 shares of the technology company’s stock worth $193,929,000 after purchasing an additional 290,175 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Generac during the 2nd quarter worth approximately $14,663,000. Atwood & Palmer Inc. bought a new stake in shares of Generac during the 1st quarter worth approximately $8,794,000. Pwmco LLC bought a new stake in shares of Generac during the 2nd quarter worth approximately $8,967,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Generac by 70.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 300,670 shares of the technology company’s stock worth $15,552,000 after purchasing an additional 124,175 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
GNRC opened at $54.80 on Monday. Generac Holdings Inc. has a 1-year low of $35.94 and a 1-year high of $56.64. The company has a current ratio of 1.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $3.39 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49.
Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. Generac had a return on equity of 46.62% and a net margin of 11.18%. The business had revenue of $494.90 million for the quarter, compared to analysts’ expectations of $448.41 million. During the same quarter in the prior year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. equities analysts expect that Generac Holdings Inc. will post 4.11 earnings per share for the current year.
In other Generac news, insider Russell S. Minick sold 9,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $54.86, for a total value of $493,740.00. Following the transaction, the insider now directly owns 16,353 shares of the company’s stock, valued at approximately $897,125.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Russell S. Minick sold 14,662 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $51.53, for a total value of $755,532.86. Following the completion of the transaction, the insider now directly owns 25,353 shares in the company, valued at $1,306,440.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,662 shares of company stock worth $4,388,273. 3.00% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on GNRC. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Friday, August 3rd. Stifel Nicolaus upped their price objective on Generac from $52.00 to $56.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. KeyCorp reiterated a “buy” rating and set a $60.00 price objective on shares of Generac in a research note on Wednesday, August 1st. Goldman Sachs Group cut Generac from a “neutral” rating to a “sell” rating and set a $49.00 price objective on the stock. in a research note on Monday, July 16th. Finally, Robert W. Baird restated a “hold” rating and issued a $54.00 price target on shares of Generac in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Generac presently has a consensus rating of “Hold” and an average price target of $54.98.
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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