Generac Holdings Inc. $GNRC Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,112 shares of the technology company’s stock after buying an additional 4,123 shares during the quarter. Picton Mahoney Asset Management’s holdings in Generac were worth $8,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in shares of Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after acquiring an additional 142 shares in the last quarter. Woodline Partners LP raised its holdings in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after purchasing an additional 1,463 shares during the period. Atria Investments Inc raised its holdings in Generac by 12.8% in the 2nd quarter. Atria Investments Inc now owns 2,808 shares of the technology company’s stock worth $402,000 after purchasing an additional 318 shares during the period. Strs Ohio boosted its position in Generac by 8.6% during the second quarter. Strs Ohio now owns 8,501 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 672 shares in the last quarter. Finally, Huntington National Bank grew its holdings in Generac by 54.6% in the second quarter. Huntington National Bank now owns 702 shares of the technology company’s stock valued at $101,000 after purchasing an additional 248 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Down 0.2%

Shares of GNRC opened at $220.72 on Thursday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $241.09. The stock has a market cap of $12.95 billion, a PE ratio of 82.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.74. The firm’s fifty day moving average is $181.45 and its two-hundred day moving average is $173.66. 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 issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. Generac’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company earned $2.80 earnings per share. Research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and set a $220.00 target price on shares of Generac in a research note on Thursday, February 12th. Canaccord Genuity Group set a $275.00 price target on shares of Generac in a report on Thursday, February 12th. Stifel Nicolaus set a $235.00 price objective on shares of Generac in a research report on Thursday, February 12th. Robert W. Baird set a $292.00 target price on shares of Generac in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.19.

Insider Buying and Selling

In other news, CFO York A. Ragen sold 24,362 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company’s stock.

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.