Kornitzer Capital Management Inc. KS Lowers Stake in Generac Holdings Inc. (GNRC)
Kornitzer Capital Management Inc. KS reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 430,845 shares of the company’s stock after selling 60,410 shares during the period. Kornitzer Capital Management Inc. KS owned 0.65% of Generac Holdings worth $15,062,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. 1st Global Advisors Inc. increased its position in shares of Generac Holdings by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,755 shares of the company’s stock worth $376,000 after buying an additional 50 shares during the period. Bayesian Capital Management LP increased its position in shares of Generac Holdings by 43.4% in the first quarter. Bayesian Capital Management LP now owns 11,900 shares of the company’s stock worth $443,000 after buying an additional 3,600 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Generac Holdings by 3.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 12,888 shares of the company’s stock worth $451,000 after buying an additional 400 shares during the period. Ngam Advisors L.P. increased its position in shares of Generac Holdings by 11.3% in the first quarter. Ngam Advisors L.P. now owns 13,490 shares of the company’s stock worth $502,000 after buying an additional 1,372 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Generac Holdings during the first quarter worth approximately $523,000.
Shares of Generac Holdings Inc. (NYSE:GNRC) traded up 0.22% during midday trading on Friday, hitting $35.82. 307,647 shares of the company’s stock were exchanged. Generac Holdings Inc. has a one year low of $26.29 and a one year high of $39.59. The stock’s 50-day moving average price is $35.94 and its 200 day moving average price is $36.56. The firm has a market cap of $2.36 billion, a PE ratio of 32.45 and a beta of 1.24.
Generac Holdings (NYSE:GNRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. The firm had revenue of $367.40 million for the quarter, compared to analysts’ expectations of $355.23 million. Generac Holdings had a net margin of 5.42% and a return on equity of 42.86%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. Equities research analysts forecast that Generac Holdings Inc. will post $2.82 EPS for the current year.
A number of brokerages have commented on GNRC. Zacks Investment Research downgraded shares of Generac Holdings from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Bank of America Corp. cut shares of Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a research report on Monday, August 1st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating, Generac Holdings presently has an average rating of “Hold” and a consensus price target of $36.00.
About Generac Holdings
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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