King Luther Capital Management Corp Trims Stake in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• King Luther Capital Management Corp reduced its stake in Generac Holdings Inc. by 0.6%, owning 484,407 shares valued at approximately $61.35 million after selling 2,995 shares in the first quarter.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac's stock for $712,000, resulting in a slight decrease in his ownership to 562,966 shares valued at over $80 million.
• Generac's stock is currently trading around $196.49, with analysts issuing a consensus price target of $174.28 and a mix of buy and hold ratings from various research firms.

King Luther Capital Management Corp reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,407 shares of the technology company's stock after selling 2,995 shares during the period. King Luther Capital Management Corp owned approximately 0.82% of Generac worth $61,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Generac during the 1st quarter valued at $242,000. Invesco Ltd. lifted its holdings in shares of Generac by 25.3% during the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after acquiring an additional 285,388 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Generac by 1.7% during the 1st quarter. Benjamin Edwards Inc. now owns 8,691 shares of the technology company's stock worth $1,101,000 after acquiring an additional 148 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Generac by 16.2% during the 1st quarter. Covestor Ltd now owns 596 shares of the technology company's stock worth $75,000 after acquiring an additional 83 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Generac by 14.3% during the 1st quarter. Townsquare Capital LLC now owns 3,669 shares of the technology company's stock worth $465,000 after acquiring an additional 460 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares in the company, valued at $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Generac Price Performance

GNRC stock opened at $196.49 on Friday. The firm's 50-day moving average price is $149.14 and its two-hundred day moving average price is $135.68. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $199.89. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 1.56 and a beta of 1.68. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. Generac's quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GNRC. Janney Montgomery Scott raised shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Generac from $141.00 to $144.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their price target on shares of Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Stephens reissued an "overweight" rating and issued a $175.00 price target on shares of Generac in a research note on Tuesday, May 27th. Finally, Roth Capital boosted their price target on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.28.

About Generac

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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