Strs Ohio Boosts Stake in Generac Holdings Inc. (NYSE:GNRC)
Strs Ohio lifted its stake in Generac Holdings Inc. (NYSE:GNRC) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,273 shares of the technology company’s stock after purchasing an additional 273 shares during the period. Strs Ohio’s holdings in Generac were worth $1,496,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GNRC. OmniStar Financial Group Inc. purchased a new stake in Generac in the 1st quarter worth $29,000. Exchange Traded Concepts LLC purchased a new stake in Generac in the 1st quarter worth $34,000. Ninety One SA PTY Ltd purchased a new stake in Generac in the 1st quarter worth $38,000. Woodley Farra Manion Portfolio Management Inc. purchased a new stake in Generac in the 1st quarter worth $53,000. Finally, Allworth Financial LP purchased a new stake in Generac in the 1st quarter worth $58,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
A number of brokerages have recently weighed in on GNRC. William Blair restated a “buy” rating on shares of Generac in a research report on Wednesday, July 15th. UBS Group began coverage on Generac in a research report on Thursday, June 25th. They set a “buy” rating and a $145.00 price objective for the company. Robert W. Baird raised their price objective on Generac from $117.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, June 19th. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Wednesday, July 1st. Finally, KeyCorp restated a “hold” rating on shares of Generac in a research report on Monday, July 20th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $141.73.
Shares of NYSE:GNRC opened at $157.58 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.34 and a debt-to-equity ratio of 0.97. Generac Holdings Inc. has a 12 month low of $69.00 and a 12 month high of $157.65. The company has a 50-day moving average price of $123.91 and a 200 day moving average price of $108.31. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 4.88 and a beta of 0.92.
Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.48. Generac had a net margin of 11.39% and a return on equity of 32.73%. The firm had revenue of $546.80 million during the quarter, compared to the consensus estimate of $476.86 million. During the same quarter last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Generac Holdings Inc. will post 4.4 EPS for the current year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
Read More: Initial Public Offering (IPO)
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.