JCP Investment Management LLC Sells 7,198 Shares of Generac Holdings Inc. $GNRC

JCP Investment Management LLC cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,589 shares of the technology company’s stock after selling 7,198 shares during the period. Generac comprises about 13.9% of JCP Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. JCP Investment Management LLC owned approximately 0.22% of Generac worth $21,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Generac in the 3rd quarter valued at approximately $70,744,000. Strs Ohio boosted its stake in shares of Generac by 583.4% during the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after buying an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. grew 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 buying an additional 15,280 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Generac by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock worth $51,728,000 after buying an additional 10,325 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Generac by 30.5% in the third quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock worth $14,501,000 after buying an additional 20,270 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on GNRC. UBS Group reiterated a “buy” rating and set a $270.00 price objective on shares of Generac in a research note on Friday, February 13th. TD Cowen boosted their target price on shares of Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Guggenheim restated a “neutral” rating and issued a $202.00 target price on shares of Generac in a research note on Tuesday, February 10th. Wells Fargo & Company increased their price target on shares of Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average price target of $222.06.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 24,362 shares of the 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 sale, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Stock Performance

Shares of GNRC opened at $200.59 on Monday. The stock has a market capitalization of $11.77 billion, a PE ratio of 74.85, a price-to-earnings-growth ratio of 1.46 and a beta of 1.74. The business’s fifty day moving average price is $191.17 and its 200 day moving average price is $174.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $241.09.

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

Generac Company 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.