Generac Holdlings Inc. (GNRC) Stake Decreased by PDT Partners LLC
PDT Partners LLC lowered its holdings in Generac Holdlings Inc. (NYSE:GNRC) by 28.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,772 shares of the technology company’s stock after selling 20,928 shares during the quarter. PDT Partners LLC owned 0.08% of Generac Holdlings worth $1,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. EdgePoint Investment Group Inc. lifted its holdings in shares of Generac Holdlings by 13.9% during the second quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock valued at $317,060,000 after purchasing an additional 1,069,401 shares in the last quarter. Vanguard Group Inc. increased its holdings in Generac Holdlings by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 5,162,329 shares of the technology company’s stock worth $192,452,000 after buying an additional 177,943 shares in the last quarter. BlackRock Inc. increased its holdings in Generac Holdlings by 13,069.4% in the 1st quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock worth $155,006,000 after buying an additional 4,126,286 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Generac Holdlings by 29.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock worth $82,893,000 after buying an additional 515,905 shares in the last quarter. Finally, FMR LLC increased its holdings in Generac Holdlings by 2.2% in the 1st quarter. FMR LLC now owns 2,032,333 shares of the technology company’s stock worth $75,765,000 after buying an additional 44,633 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.
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GNRC has been the subject of a number of recent analyst reports. Robert W. Baird reissued a “buy” rating and issued a $50.00 target price on shares of Generac Holdlings in a research report on Wednesday. BidaskClub upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet raised shares of Generac Holdlings from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. KeyCorp raised shares of Generac Holdlings from a “sector weight” rating to an “overweight” rating and set a $55.00 price target on the stock in a report on Monday. Finally, Bank of America Corporation upgraded shares of Generac Holdlings from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Friday, September 15th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.00.
Generac Holdlings Inc. (GNRC) opened at 48.68 on Wednesday. Generac Holdlings Inc. has a 12 month low of $33.77 and a 12 month high of $48.97. The firm has a 50-day moving average price of $42.01 and a 200 day moving average price of $37.66. The stock has a market capitalization of $3.03 billion, a PE ratio of 29.08 and a beta of 1.41.
Generac Holdlings (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The company had revenue of $395.40 million during the quarter, compared to analyst estimates of $383.14 million. During the same period last year, the firm posted $0.64 EPS. Generac Holdlings’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Generac Holdlings Inc. will post $2.98 earnings per share for the current year.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $40.44, for a total value of $202,200.00. Following the sale, the chief executive officer now owns 1,039,911 shares in the company, valued at $42,054,000.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.
About Generac Holdlings
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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