GSA Capital Partners LLP purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,908 shares of the technology company’s stock, valued at approximately $363,000.
A number of other hedge funds have also recently bought and sold shares of GNRC. EdgePoint Investment Group Inc. grew its position in Generac by 13.9% during the second quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock valued at $317,060,000 after acquiring an additional 1,069,401 shares during the period. Shapiro Capital Management LLC purchased a new stake in Generac during the second quarter valued at about $37,696,000. Pictet Asset Management Ltd. purchased a new stake in Generac during the third quarter valued at about $40,510,000. Janus Henderson Group PLC purchased a new stake in Generac during the second quarter valued at about $20,734,000. Finally, JPMorgan Chase & Co. grew its position in Generac by 29.0% during the second quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock valued at $82,893,000 after acquiring an additional 515,905 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Generac Holdings Inc. (GNRC) opened at $50.41 on Monday. Generac Holdings Inc. has a 1 year low of $33.77 and a 1 year high of $53.78. The company has a quick ratio of 1.01, a current ratio of 1.77 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $3,130.00, a PE ratio of 26.39, a PEG ratio of 1.63 and a beta of 1.67.
Generac (NYSE:GNRC) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Generac had a return on equity of 46.06% and a net margin of 7.47%. The company had revenue of $457.25 million during the quarter, compared to the consensus estimate of $420.42 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. research analysts expect that Generac Holdings Inc. will post 3.22 EPS for the current fiscal year.
In related news, CMO Russell S. Minick sold 24,085 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $50.92, for a total value of $1,226,408.20. Following the transaction, the chief marketing officer now owns 39,369 shares in the company, valued at $2,004,669.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $49.03, for a total value of $980,600.00. Following the completion of the transaction, the chief executive officer now owns 990,411 shares in the company, valued at approximately $48,559,851.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,085 shares of company stock worth $2,467,008. Insiders own 3.00% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Wolfe Research downgraded Generac from a “market perform” rating to an “underperform” rating in a research report on Monday, November 20th. ValuEngine downgraded Generac from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research raised Generac from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research report on Monday, November 6th. SunTrust Banks reaffirmed a “hold” rating and issued a $48.00 target price on shares of Generac in a research report on Friday, November 3rd. Finally, Canaccord Genuity upped their target price on Generac from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Generac currently has a consensus rating of “Buy” and a consensus price target of $53.00.
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Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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