EdgePoint Investment Group Inc. Raises Position in Generac Holdlings Inc. (GNRC)
EdgePoint Investment Group Inc. boosted its holdings in shares of Generac Holdlings Inc. (NYSE:GNRC) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,775,546 shares of the technology company’s stock after acquiring an additional 1,069,401 shares during the period. Generac Holdlings accounts for about 5.0% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 8th largest holding. EdgePoint Investment Group Inc. owned about 13.97% of Generac Holdlings worth $317,060,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GNRC. BlackRock Inc. lifted its position in Generac Holdlings by 13,069.4% during the 1st quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock valued at $155,006,000 after acquiring an additional 4,126,286 shares during the period. JPMorgan Chase & Co. raised its holdings in Generac Holdlings by 29.0% in the second quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock worth $82,893,000 after buying an additional 515,905 shares during the last quarter. Vivaldi Asset Management LLC purchased a new position in Generac Holdlings in the second quarter worth about $9,922,000. Vivaldi Capital Management LLC purchased a new position in Generac Holdlings in the first quarter worth about $8,819,218,000. Finally, Vanguard Group Inc. raised its holdings in Generac Holdlings by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,162,329 shares of the technology company’s stock worth $192,452,000 after buying an additional 177,943 shares during the last quarter. 96.64% of the stock is owned by institutional investors.
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 15,000 shares of company stock valued at $563,100 over the last ninety days. 3.00% of the stock is currently owned by insiders.
Shares of Generac Holdlings Inc. (NYSE:GNRC) traded up 4.91% on Friday, reaching $45.28. 2,011,527 shares of the company’s stock traded hands. The company has a market cap of $2.81 billion, a PE ratio of 27.05 and a beta of 1.39. The stock has a 50-day moving average price of $39.05 and a 200-day moving average price of $37.07. Generac Holdlings Inc. has a 12-month low of $33.77 and a 12-month high of $45.61.
Generac Holdlings (NYSE:GNRC) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The business had revenue of $395.40 million for the quarter, compared to analysts’ expectations of $383.14 million. During the same period last year, the business earned $0.64 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Generac Holdlings Inc. will post $2.96 EPS for the current fiscal year.
Several research analysts have issued reports on GNRC shares. ValuEngine cut shares of Generac Holdlings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Generac Holdlings from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research cut shares of Generac Holdlings from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Wolfe Research started coverage on shares of Generac Holdlings in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $41.00 target price on shares of Generac Holdlings in a report on Thursday, August 3rd. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $44.67.
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.
Receive News & Ratings for Generac Holdlings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac Holdlings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.