First Mercantile Trust Co. cut its stake in Generac Holdings Inc. (NYSE:GNRC) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,377 shares of the company’s stock after selling 702 shares during the period. First Mercantile Trust Co.’s holdings in Generac Holdings were worth $398,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in Generac Holdings during the first quarter worth approximately $213,000. Teacher Retirement System of Texas increased its position in Generac Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,382 shares of the company’s stock worth $328,000 after buying an additional 1,138 shares in the last quarter. 1st Global Advisors Inc. increased its position in Generac Holdings by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,755 shares of the company’s stock worth $376,000 after buying an additional 50 shares in the last quarter. DIAM Co. Ltd. increased its position in Generac Holdings by 16.1% in the second quarter. DIAM Co. Ltd. now owns 10,800 shares of the company’s stock worth $378,000 after buying an additional 1,500 shares in the last quarter. Finally, Bayesian Capital Management LP increased its position in Generac Holdings by 43.4% in the first quarter. Bayesian Capital Management LP now owns 11,900 shares of the company’s stock worth $443,000 after buying an additional 3,600 shares in the last quarter.
Shares of Generac Holdings Inc. (NYSE:GNRC) opened at 34.69 on Wednesday. Generac Holdings Inc. has a 12-month low of $26.29 and a 12-month high of $39.59. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 31.42 and a beta of 1.23. The company’s 50-day moving average price is $35.98 and its 200 day moving average price is $36.61.
Generac Holdings (NYSE:GNRC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. The company had revenue of $367.40 million for the quarter, compared to analyst estimates of $355.23 million. Generac Holdings had a return on equity of 42.86% and a net margin of 5.42%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities analysts predict that Generac Holdings Inc. will post $2.82 earnings per share for the current year.
GNRC has been the subject of a number of research reports. Zacks Investment Research downgraded Generac Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Bank of America Corp. downgraded Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a research report on Monday, August 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Generac Holdings currently has an average rating of “Hold” and an average price target of $36.00.
Generac Holdings Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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