Gotham Asset Management LLC Buys 3,353 Shares of Generac Holdings Inc. $GNRC

Gotham Asset Management LLC increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 239,173 shares of the technology company’s stock after purchasing an additional 3,353 shares during the period. Gotham Asset Management LLC’s holdings in Generac were worth $40,038,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GNRC. MUFG Securities EMEA plc acquired a new stake in Generac in the 2nd quarter worth approximately $25,000. First Horizon Corp acquired a new position in Generac during the third quarter valued at approximately $28,000. Sentry Investment Management LLC grew its holdings in Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC bought a new position in shares of Generac in the third quarter valued at approximately $41,000. Finally, Red Tortoise LLC bought a new position in shares of Generac in the third quarter valued at approximately $42,000. 84.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Generac in a report on Thursday, February 12th. TD Cowen lifted their target price on shares of Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Robert W. Baird set a $292.00 target price on shares of Generac in a research report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a report on Thursday, January 22nd. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus price target of $222.06.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Generac Price Performance

Shares of NYSE:GNRC opened at $200.59 on Monday. The firm has a market capitalization of $11.77 billion, a PE ratio of 74.85, a PEG ratio of 1.46 and a beta of 1.74. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $241.09. The business’s 50 day moving average is $191.17 and its 200-day moving average is $174.29.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. During the same quarter in the previous year, the company posted $2.80 earnings per share. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. Sell-side analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.