Picton Mahoney Asset Management purchased a new stake in Generac Holdings Inc. (NYSE:GNRC – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,380 shares of the technology company’s stock, valued at approximately $4,209,000. Picton Mahoney Asset Management owned about 0.06% of Generac at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Capital World Investors bought a new position in shares of Generac in the 4th quarter valued at about $155,707,000. Charles Schwab Investment Management Inc. raised its position in Generac by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 665,629 shares of the technology company’s stock worth $86,026,000 after purchasing an additional 15,490 shares during the period. Dimensional Fund Advisors LP raised its position in Generac by 23.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock worth $78,854,000 after purchasing an additional 115,728 shares during the period. Norges Bank purchased a new stake in Generac in the 4th quarter worth about $67,253,000. Finally, Ninety One UK Ltd raised its position in Generac by 13.4% in the 4th quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock worth $61,634,000 after purchasing an additional 56,169 shares during the period. Institutional investors own 84.04% of the company’s stock.
Insider Buying and Selling at Generac
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the sale, the chief executive officer now directly owns 587,177 shares in the company, valued at $82,175,421.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the sale, the chief executive officer now directly owns 587,177 shares in the company, valued at $82,175,421.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now owns 3,512 shares of the company’s stock, valued at $493,611.60. The disclosure for this sale can be found here. Insiders sold a total of 80,785 shares of company stock worth $11,720,411 over the last three months. Corporate insiders own 2.80% of the company’s stock.
Generac Stock Down 0.3 %
Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. During the same period last year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Generac Holdings Inc. will post 6.16 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on GNRC shares. Roth Mkm increased their price objective on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Guggenheim lowered shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective on the stock. in a research report on Thursday, May 30th. OTR Global raised shares of Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. Oppenheimer lowered shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $142.65.
Check Out Our Latest Research Report on GNRC
Generac Profile
Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.
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