Y Intercept Hong Kong Ltd bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,082 shares of the technology company's stock, valued at approximately $1,150,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GNRC. PFG Advisors boosted its holdings in Generac by 42.6% during the first quarter. PFG Advisors now owns 3,596 shares of the technology company's stock worth $455,000 after buying an additional 1,074 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Generac by 2.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,167 shares of the technology company's stock valued at $654,000 after purchasing an additional 110 shares in the last quarter. Impact Partnership Wealth LLC acquired a new stake in Generac in the 1st quarter valued at approximately $243,000. Formidable Asset Management LLC raised its position in Generac by 5.7% in the 1st quarter. Formidable Asset Management LLC now owns 2,885 shares of the technology company's stock valued at $365,000 after buying an additional 156 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Generac during the 1st quarter worth approximately $1,330,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other 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 transaction of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.
Generac Price Performance
GNRC traded down $0.73 on Monday, reaching $156.23. The stock had a trading volume of 214,430 shares, compared to its average volume of 877,357. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The firm has a 50-day moving average of $136.99 and a 200-day moving average of $133.76. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.42 and a beta of 1.72.
Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The company had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. During the same period last year, the company earned $0.88 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on GNRC. Wells Fargo & Company lowered their price target on Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. Canaccord Genuity Group cut their target price on Generac from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their target price on Generac from $141.00 to $144.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, UBS Group cut their target price on Generac from $205.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.58.
Check Out Our Latest Report on Generac
About Generac
(
Free Report)
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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