Generac Holdings Inc. (GNRC) Position Cut by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.6% in the first quarter, HoldingsChannel.com reports. The fund owned 1,992,956 shares of the technology company’s stock after selling 187,350 shares during the quarter. JPMorgan Chase & Co.’s holdings in Generac were worth $102,100,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Enlightenment Research LLC purchased a new stake in shares of Generac in the 4th quarter worth $25,000. Exane Derivatives purchased a new stake in shares of Generac in the 1st quarter worth $36,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Generac in the 4th quarter worth $49,000. Quadrant Capital Group LLC purchased a new stake in shares of Generac in the 1st quarter worth $52,000. Finally, YorkBridge Wealth Partners LLC purchased a new stake in shares of Generac in the 4th quarter worth $106,000. Institutional investors own 95.38% of the company’s stock.
In related news, CEO Aaron Jagdfeld sold 20,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $51.75, for a total transaction of $1,035,000.00. Following the transaction, the chief executive officer now directly owns 721,281 shares of the company’s stock, valued at approximately $37,326,291.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Russell S. Minick sold 31,283 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold a total of 91,283 shares of company stock valued at $4,816,383 over the last 90 days. 2.70% of the stock is currently owned by company insiders.
Shares of NYSE GNRC opened at $56.50 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.06 and a quick ratio of 0.92. The firm has a market cap of $3.52 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.89 and a beta of 1.14. Generac Holdings Inc. has a 1-year low of $45.43 and a 1-year high of $60.70.
Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. The firm had revenue of $470.35 million during the quarter, compared to analysts’ expectations of $450.73 million. Generac had a return on equity of 41.59% and a net margin of 11.84%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. As a group, equities analysts forecast that Generac Holdings Inc. will post 4.64 EPS for the current fiscal year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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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