grace capital acquired a new position in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,300 shares of the technology company’s stock, valued at approximately $325,000.
Several other institutional investors also recently made changes to their positions in GNRC. Wells Fargo & Company MN grew its stake in shares of Generac by 9.5% in the first quarter. Wells Fargo & Company MN now owns 247,117 shares of the technology company’s stock worth $11,345,000 after acquiring an additional 21,391 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Generac during the first quarter worth $350,000. Mackay Shields LLC acquired a new stake in Generac during the first quarter worth $1,042,000. American Century Companies Inc. boosted its stake in Generac by 4.9% during the first quarter. American Century Companies Inc. now owns 188,366 shares of the technology company’s stock worth $8,648,000 after buying an additional 8,728 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Generac by 38.6% during the first quarter. Victory Capital Management Inc. now owns 6,789 shares of the technology company’s stock worth $312,000 after buying an additional 1,889 shares in the last quarter. Institutional investors and hedge funds own 97.82% of the company’s stock.
A number of research firms have weighed in on GNRC. KeyCorp reiterated an “overweight” rating and set a $62.00 price target (up previously from $60.00) on shares of Generac in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Generac from $52.00 to $56.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Canaccord Genuity set a $54.00 price target on shares of Generac and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Robert W. Baird reiterated a “hold” rating and set a $54.00 price target on shares of Generac in a research note on Friday, July 20th. Finally, Zacks Investment Research downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, July 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Generac presently has a consensus rating of “Hold” and a consensus target price of $56.23.
GNRC opened at $57.66 on Friday. Generac Holdings Inc. has a fifty-two week low of $42.88 and a fifty-two week high of $60.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 1.94. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45.
Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.20. The company had revenue of $494.90 million during the quarter, compared to analysts’ expectations of $448.41 million. Generac had a return on equity of 46.62% and a net margin of 11.18%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. sell-side analysts anticipate that Generac Holdings Inc. will post 4.11 EPS for the current fiscal year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered 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.
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