Sandler Capital Management purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, HoldingsChannel reports. The firm purchased 89,020 shares of the technology company’s stock, valued at approximately $4,605,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Generac by 14.5% in the second quarter. BlackRock Inc. now owns 4,838,216 shares of the technology company’s stock worth $250,281,000 after purchasing an additional 614,112 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Generac by 32.8% in the second quarter. Janus Henderson Group PLC now owns 1,874,526 shares of the technology company’s stock worth $96,969,000 after purchasing an additional 463,226 shares during the last quarter. Redwood Investments LLC purchased a new stake in shares of Generac in the second quarter worth approximately $19,363,000. Eagle Asset Management Inc. purchased a new stake in shares of Generac in the second quarter worth approximately $14,663,000. Finally, Pwmco LLC purchased a new stake in shares of Generac in the second quarter worth approximately $8,967,000. 97.82% of the stock is currently owned by institutional investors and hedge funds.

In other Generac news, insider Russell S. Minick sold 9,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $54.86, for a total transaction of $493,740.00. Following the completion of the transaction, the insider now directly owns 16,353 shares of the company’s stock, valued at $897,125.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $55.21, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now directly owns 875,986 shares of the company’s stock, valued at $48,363,187.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,000 shares of company stock valued at $3,718,740. 3.00% of the stock is owned by corporate insiders.

Several analysts have recently commented on GNRC shares. Zacks Investment Research raised Generac from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Friday, August 3rd. KeyCorp reaffirmed a “buy” rating and set a $60.00 price target on shares of Generac in a research report on Wednesday, August 1st. Canaccord Genuity increased their price target on Generac from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $54.00 price target on shares of Generac in a research report on Friday, July 20th. Finally, Stifel Nicolaus increased their price target on Generac from $52.00 to $56.00 and gave the company a “hold” rating in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Generac currently has a consensus rating of “Hold” and a consensus price target of $56.23.

Shares of GNRC traded down $0.75 on Thursday, reaching $57.39. 5,091 shares of the company’s stock traded hands, compared to its average volume of 552,887. The company has a current ratio of 1.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.22 and a beta of 1.45. Generac Holdings Inc. has a 52-week low of $42.75 and a 52-week high of $60.70.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.20. The company had revenue of $494.90 million during the quarter, compared to the consensus estimate of $448.41 million. Generac had a return on equity of 46.62% and a net margin of 11.18%. Generac’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. equities research analysts predict that Generac Holdings Inc. will post 4.11 earnings per share for the current year.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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