Bank of Montreal Can Purchases New Position in Generac Holdings Inc. (GNRC)
Bank of Montreal Can bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, Holdings Channel reports. The firm bought 203,501 shares of the company’s stock, valued at approximately $7,114,000.
A number of other institutional investors also recently bought and sold shares of the stock. Investec Asset Management LTD raised its position in Generac Holdings by 0.4% in the first quarter. Investec Asset Management LTD now owns 2,758,750 shares of the company’s stock worth $102,736,000 after buying an additional 10,080 shares during the last quarter. State Street Corp raised its position in Generac Holdings by 1.6% in the first quarter. State Street Corp now owns 1,147,002 shares of the company’s stock worth $42,709,000 after buying an additional 17,778 shares during the last quarter. Scopia Capital Management LP acquired a new position in Generac Holdings during the first quarter worth approximately $35,581,000. Kennedy Capital Management Inc. raised its position in Generac Holdings by 4.7% in the first quarter. Kennedy Capital Management Inc. now owns 467,924 shares of the company’s stock worth $17,425,000 after buying an additional 21,020 shares during the last quarter. Finally, Skyline Asset Management LP acquired a new position in Generac Holdings during the first quarter worth approximately $16,728,000.
Shares of Generac Holdings Inc. (NYSE:GNRC) traded down 5.13% during trading on Friday, reaching $36.21. The company had a trading volume of 1,033,633 shares. The firm has a 50 day moving average price of $36.08 and a 200 day moving average price of $36.59. Generac Holdings Inc. has a 12 month low of $26.29 and a 12 month high of $39.59. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 32.80 and a beta of 1.24.
Generac Holdings (NYSE:GNRC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. Generac Holdings had a net margin of 5.42% and a return on equity of 42.86%. The company earned $367.40 million during the quarter, compared to the consensus estimate of $355.23 million. During the same period in the prior year, the business posted $0.50 EPS. The company’s quarterly revenue was up 27.4% on a year-over-year basis. Analysts predict that Generac Holdings Inc. will post $2.82 earnings per share for the current year.
A number of equities analysts have recently commented on the company. Zacks Investment Research lowered Generac Holdings from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Bank of America Corp. lowered Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Monday, August 1st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.
About Generac Holdings
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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