QS Investors LLC Grows Position in Generac Holdlings Inc. (GNRC)
QS Investors LLC increased its stake in shares of Generac Holdlings Inc. (NYSE:GNRC) by 586,441.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,712 shares of the technology company’s stock after acquiring an additional 99,695 shares during the quarter. QS Investors LLC owned approximately 0.16% of Generac Holdlings worth $3,603,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Generac Holdlings by 51.8% in the first quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock worth $122,000 after acquiring an additional 1,116 shares in the last quarter. Invictus RG grew its stake in Generac Holdlings by 940.9% in the first quarter. Invictus RG now owns 3,893 shares of the technology company’s stock valued at $145,000 after acquiring an additional 3,519 shares during the period. Envestnet Asset Management Inc. grew its stake in Generac Holdlings by 93.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,327 shares during the period. Karp Capital Management Corp acquired a new stake in Generac Holdlings in the first quarter valued at approximately $219,000. Finally, Amalgamated Bank grew its stake in Generac Holdlings by 4.9% in the second quarter. Amalgamated Bank now owns 8,100 shares of the technology company’s stock valued at $293,000 after acquiring an additional 380 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.
GNRC has been the topic of a number of research reports. Robert W. Baird reaffirmed a “buy” rating and set a $50.00 target price on shares of Generac Holdlings in a research report on Wednesday. BidaskClub raised shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp raised shares of Generac Holdlings from a “sector weight” rating to an “overweight” rating and set a $55.00 price target for the company in a research report on Monday. TheStreet upgraded shares of Generac Holdlings from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Finally, Bank of America Corporation upgraded shares of Generac Holdlings from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $34.00 to $45.00 in a research note on Thursday, September 7th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Generac Holdlings has a consensus rating of “Buy” and a consensus target price of $47.00.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac Holdlings stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $40.44, for a total transaction of $202,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,039,911 shares in the company, valued at $42,054,000.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.
Generac Holdlings Inc. (NYSE GNRC) opened at 48.68 on Wednesday. The stock has a 50 day moving average price of $42.01 and a 200-day moving average price of $37.66. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 29.08 and a beta of 1.41. Generac Holdlings Inc. has a 12-month low of $33.77 and a 12-month high of $48.97.
Generac Holdlings (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The business had revenue of $395.40 million for the quarter, compared to analysts’ expectations of $383.14 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Generac Holdlings Inc. will post $2.98 EPS for the current fiscal year.
Generac Holdlings Company Profile
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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