King Luther Capital Management Corp lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 813,961 shares of the technology company’s stock after selling 3,514 shares during the period. King Luther Capital Management Corp owned approximately 1.31% of Generac worth $42,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stevens Capital Management LP bought a new stake in shares of Generac during the first quarter valued at approximately $213,000. Financial Gravity Wealth Inc. bought a new stake in shares of Generac during the first quarter valued at approximately $212,000. Strs Ohio raised its stake in shares of Generac by 30.0% during the second quarter. Strs Ohio now owns 5,200 shares of the technology company’s stock valued at $268,000 after acquiring an additional 1,200 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of Generac during the first quarter valued at approximately $242,000. Finally, Alambic Investment Management L.P. bought a new stake in shares of Generac during the first quarter valued at approximately $266,000.
GNRC has been the subject of several research analyst reports. KeyCorp reaffirmed a “buy” rating and set a $60.00 price target on shares of Generac in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of Generac from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Friday, August 3rd. Goldman Sachs Group downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $49.00 price target for the company. in a research note on Monday, July 16th. Robert W. Baird reaffirmed a “hold” rating and set a $54.00 price target on shares of Generac in a research note on Friday, July 20th. Finally, Stifel Nicolaus lifted their price target on shares of Generac from $52.00 to $56.00 and gave the company a “hold” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.98.
In related news, insider Russell S. Minick sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $54.86, for a total value of $493,740.00. Following the completion of the transaction, the insider now owns 16,353 shares of the company’s stock, valued at $897,125.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,026,800.00. Following the completion of the transaction, the chief executive officer now directly owns 883,571 shares of the company’s stock, valued at approximately $45,362,535.14. The disclosure for this sale can be found here. Insiders sold 83,662 shares of company stock valued at $4,474,273 in the last three months. 3.00% of the stock is currently owned by insiders.
Shares of NYSE:GNRC opened at $55.50 on Friday. The company has a market capitalization of $3.40 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.05 and a beta of 1.45. Generac Holdings Inc. has a 52 week low of $41.45 and a 52 week high of $56.64. The company has a quick ratio of 0.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.47.
Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.20. The company had revenue of $494.90 million during the quarter, compared to the consensus estimate of $448.41 million. Generac had a net margin of 11.18% and a return on equity of 46.62%. Generac’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. sell-side analysts predict that Generac Holdings Inc. will post 4.11 EPS for the current fiscal year.
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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