Quantedge Capital Pte Ltd Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Quantedge Capital Pte Ltd purchased a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,400 shares of the technology company's stock, valued at approximately $2,233,000.

Several other institutional investors also recently modified their holdings of the company. Nebula Research & Development LLC bought a new position in Generac in the 4th quarter valued at approximately $3,638,000. Pinebridge Investments L.P. increased its holdings in Generac by 28.1% in the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock worth $10,697,000 after purchasing an additional 15,147 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Generac by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock valued at $4,998,000 after acquiring an additional 14,811 shares during the period. Evercore Wealth Management LLC increased its stake in Generac by 4.3% in the fourth quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company's stock valued at $66,682,000 after purchasing an additional 17,711 shares in the last quarter. Finally, Barclays PLC raised its stake in Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock worth $29,425,000 after buying an additional 54,202 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Down 0.5%

Shares of NYSE:GNRC traded down $0.59 during midday trading on Tuesday, hitting $128.36. 143,591 shares of the stock were exchanged, compared to its average volume of 876,066. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The business's fifty day simple moving average is $120.01 and its two-hundred day simple moving average is $146.19. The company has a market capitalization of $7.58 billion, a PE ratio of 23.77, a P/E/G ratio of 1.44 and a beta of 1.73.

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

Wall Street Analyst Weigh In

GNRC has been the subject of several recent research reports. Stifel Nicolaus decreased their price target on Generac from $200.00 to $195.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen decreased their price target on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Guggenheim upgraded Generac from a "sell" rating to a "neutral" rating in a research report on Monday, March 17th. Piper Sandler reduced their target price on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, TD Securities lowered their price objective on shares of Generac from $173.00 to $155.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $167.20.

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.