Generac Holdings Inc. $GNRC Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 26.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,500 shares of the technology company’s stock after selling 7,500 shares during the period. Quinn Opportunity Partners LLC’s holdings in Generac were worth $3,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Generac in the third quarter valued at approximately $70,744,000. Strs Ohio boosted its stake in shares of Generac by 583.4% in the third quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock worth $9,725,000 after acquiring an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after purchasing an additional 15,280 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Generac by 2.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock valued at $51,728,000 after purchasing an additional 10,325 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Generac by 30.5% in the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock valued at $14,501,000 after purchasing an additional 20,270 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is owned by company insiders.

Generac Stock Down 1.7%

Shares of GNRC opened at $200.59 on Friday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $241.09. The company has a market capitalization of $11.77 billion, a PE ratio of 74.85, a price-to-earnings-growth ratio of 1.49 and a beta of 1.74. The stock has a fifty day simple moving average of $191.17 and a two-hundred day simple moving average of $174.49. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. The firm’s revenue was down 11.6% on a year-over-year basis. As a group, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. UBS Group reiterated a “buy” rating and issued a $270.00 target price on shares of Generac in a research report on Friday, February 13th. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a research note on Monday, December 8th. Barclays boosted their price target on shares of Generac from $186.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Finally, Needham & Company LLC initiated coverage on shares of Generac in a research note on Monday, January 12th. They set a “buy” rating and a $211.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.06.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.