Northern Trust Corp Cuts Stake in Generac Holdings Inc. (GNRC)
Northern Trust Corp lessened its holdings in Generac Holdings Inc. (NYSE:GNRC) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 841,782 shares of the technology company’s stock after selling 4,257 shares during the quarter. Northern Trust Corp owned 1.36% of Generac worth $41,836,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Generac by 1.6% in the third quarter. Vanguard Group Inc now owns 6,292,028 shares of the technology company’s stock worth $354,933,000 after purchasing an additional 100,141 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Generac by 1.6% in the third quarter. Vanguard Group Inc. now owns 6,292,028 shares of the technology company’s stock worth $354,933,000 after purchasing an additional 100,141 shares in the last quarter. BlackRock Inc. lifted its position in shares of Generac by 0.7% in the third quarter. BlackRock Inc. now owns 4,871,723 shares of the technology company’s stock worth $274,812,000 after purchasing an additional 33,507 shares in the last quarter. FMR LLC lifted its position in shares of Generac by 8.3% in the third quarter. FMR LLC now owns 3,327,353 shares of the technology company’s stock worth $187,697,000 after purchasing an additional 255,168 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Generac by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 2,103,407 shares of the technology company’s stock worth $118,653,000 after purchasing an additional 34,838 shares in the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.
In other Generac news, insider Russell S. Minick sold 31,283 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $52.52, for a total value of $1,642,983.16. Following the transaction, the insider now directly owns 14,415 shares in the company, valued at $757,075.80. The transaction 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 company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now owns 780,271 shares in the company, valued at $39,013,550. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,283 shares of company stock worth $4,739,583. 3.00% of the stock is owned by corporate insiders.
Shares of GNRC opened at $49.73 on Friday. The firm has a market cap of $3.22 billion, a P/E ratio of 11.04, a PEG ratio of 1.74 and a beta of 1.13. Generac Holdings Inc. has a 1-year low of $43.65 and a 1-year high of $60.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.03 and a current ratio of 2.00.
Generac (NYSE:GNRC) last issued its earnings results on Thursday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.03. The business had revenue of $563.40 million for the quarter, compared to the consensus estimate of $552.69 million. Generac had a net margin of 11.71% and a return on equity of 44.15%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. On average, analysts predict that Generac Holdings Inc. will post 4.59 earnings per share for the current year.
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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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