Centre Asset Management LLC Sells 3,615 Shares of Generac Holdings Inc. (NYSE:GNRC)

Centre Asset Management LLC lowered its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,219 shares of the technology company's stock after selling 3,615 shares during the quarter. Generac comprises approximately 1.9% of Centre Asset Management LLC's investment portfolio, making the stock its 29th largest holding. Centre Asset Management LLC owned about 0.10% of Generac worth $7,247,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GNRC. Barclays PLC grew its position in Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock valued at $29,425,000 after purchasing an additional 54,202 shares during the period. LaFleur & Godfrey LLC boosted its holdings in Generac by 7.0% during the 4th quarter. LaFleur & Godfrey LLC now owns 66,500 shares of the technology company's stock worth $10,311,000 after acquiring an additional 4,350 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Generac by 8.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,173 shares of the technology company's stock worth $337,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. boosted its holdings in Generac by 82.5% during the 4th quarter. Blue Trust Inc. now owns 418 shares of the technology company's stock worth $66,000 after acquiring an additional 189 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Generac during the 4th quarter worth $352,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Performance

Generac stock traded down $2.13 during midday trading on Friday, reaching $122.15. The stock had a trading volume of 697,081 shares, compared to its average volume of 839,308. The firm's 50-day moving average price is $118.48 and its 200 day moving average price is $142.94. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.22 billion, a PE ratio of 22.62, a P/E/G ratio of 1.44 and a beta of 1.73.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.27. Generac had a net margin of 7.36% and a return on equity of 18.17%. The business had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. During the same period in the previous year, the business earned $0.88 EPS. Generac's revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Generac from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Citigroup raised shares of Generac from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $162.00 to $138.00 in a report on Thursday, April 17th. Stifel Nicolaus cut their price objective on shares of Generac from $200.00 to $195.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group cut their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price objective on shares of Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.37.

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.