Generac Holdlings Inc. (GNRC) Stake Lowered by Credit Suisse AG
Credit Suisse AG lowered its position in Generac Holdlings Inc. (NYSE:GNRC) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,866 shares of the technology company’s stock after selling 10,006 shares during the period. Credit Suisse AG’s holdings in Generac Holdlings were worth $2,417,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of GNRC. AQR Capital Management LLC increased its stake in Generac Holdlings by 96.2% in the fourth quarter. AQR Capital Management LLC now owns 19,891 shares of the technology company’s stock worth $810,000 after buying an additional 9,753 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Generac Holdlings by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 109,245 shares of the technology company’s stock valued at $4,451,000 after buying an additional 6,494 shares during the period. Copper Rock Capital Partners LLC acquired a new stake in shares of Generac Holdlings during the first quarter valued at about $21,614,000. Bank of Montreal Can increased its stake in shares of Generac Holdlings by 56.9% in the first quarter. Bank of Montreal Can now owns 329,041 shares of the technology company’s stock valued at $12,266,000 after buying an additional 119,298 shares during the period. Finally, Atria Investments LLC increased its stake in shares of Generac Holdlings by 1.7% in the first quarter. Atria Investments LLC now owns 7,225 shares of the technology company’s stock valued at $269,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 99.57% of the company’s stock.
Shares of Generac Holdlings Inc. (NYSE GNRC) traded up 1.22% on Friday, hitting $38.22. 282,117 shares of the company’s stock traded hands. Generac Holdlings Inc. has a 1-year low of $32.75 and a 1-year high of $44.84. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 22.83 and a beta of 1.40. The firm’s 50-day moving average price is $36.09 and its 200 day moving average price is $37.20.
Generac Holdlings (NYSE:GNRC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Generac Holdlings had a return on equity of 47.06% and a net margin of 7.00%. The business had revenue of $395.40 million during the quarter, compared to analysts’ expectations of $383.14 million. During the same period in the prior year, the business earned $0.64 EPS. Generac Holdlings’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Generac Holdlings Inc. will post $2.92 earnings per share for the current year.
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Several brokerages recently issued reports on GNRC. ValuEngine downgraded shares of Generac Holdlings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Canaccord Genuity reaffirmed a “hold” rating and set a $40.00 price target on shares of Generac Holdlings in a research report on Friday, April 21st. TheStreet lowered shares of Generac Holdlings from a “b” rating to a “c+” rating in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of Generac Holdlings from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Finally, BidaskClub lowered shares of Generac Holdlings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.83.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the sale, the chief executive officer now owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
About Generac Holdlings
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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