Blueshift Asset Management LLC Takes $266,000 Position in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Blueshift Asset Management LLC has taken a new position in Generac Holdings Inc. by acquiring 2,102 shares valued at approximately $266,000 during the first quarter.
• Generac recently reported earnings of $1.65 per share, exceeding the consensus estimate of $1.33, with revenue of $1.06 billion for the quarter.
• Analysts have varying ratings on Generac, with a Moderate Buy average rating and price targets ranging from $127.00 to $175.00.

Blueshift Asset Management LLC acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,102 shares of the technology company's stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nebula Research & Development LLC acquired a new stake in shares of Generac during the 4th quarter worth about $3,638,000. Pinebridge Investments L.P. lifted its stake in shares of Generac by 28.1% during the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock valued at $10,697,000 after buying an additional 15,147 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Generac by 19.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock worth $929,000 after acquiring an additional 1,195 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Generac in the 1st quarter worth approximately $245,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Generac by 15.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after acquiring an additional 3,345 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Stock Down 0.6%

GNRC opened at $193.57 on Friday. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $197.18. The firm has a 50 day moving average price of $142.00 and a 200 day moving average price of $134.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 2.00. The company has a market cap of $11.44 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.67.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. Generac's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

GNRC has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen upgraded Generac from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Robert W. Baird decreased their price target on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Stephens restated an "overweight" rating and issued a $175.00 price target on shares of Generac in a report on Tuesday, May 27th. Finally, Canaccord Genuity Group dropped their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $174.28.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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