Y Intercept Hong Kong Ltd Increases Holdings in Generac Holdings Inc. $GNRC

Y Intercept Hong Kong Ltd increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 115.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,868 shares of the technology company’s stock after purchasing an additional 25,103 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Generac were worth $7,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GNRC. Invesco Ltd. raised its position in Generac by 40.9% during the 2nd quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock worth $285,338,000 after buying an additional 577,933 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Generac during the third quarter worth $70,744,000. Norges Bank purchased a new position in shares of Generac during the second quarter worth $53,138,000. Federated Hermes Inc. lifted its position in Generac by 63.5% during the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock valued at $107,314,000 after purchasing an additional 291,012 shares during the period. Finally, Ninety One UK Ltd purchased a new stake in Generac in the third quarter valued at $46,910,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Down 1.4%

Shares of GNRC stock opened at $172.96 on Friday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. The stock’s fifty day moving average is $151.48 and its two-hundred day moving average is $167.18. The firm has a market capitalization of $10.15 billion, a P/E ratio of 32.95, a PEG ratio of 1.43 and a beta of 1.82.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. Generac’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. Research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GNRC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research note on Thursday. UBS Group lowered their price objective on Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Needham & Company LLC began coverage on shares of Generac in a report on Monday, January 12th. They set a “buy” rating and a $211.00 target price for the company. Roth Mkm set a $184.00 price target on shares of Generac and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $195.29.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares in the company, valued at $90,365,831.38. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by company insiders.

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.