Emerald Mutual Fund Advisers Trust boosted its stake in Generac Holdings Inc. (NYSE:GNRC) by 1,774.5% during the second quarter, Holdings Channel reports. The fund owned 188,765 shares of the company’s stock after buying an additional 178,695 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Generac Holdings were worth $6,599,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Generac Holdings by 3.0% in the first quarter. Geode Capital Management LLC now owns 432,486 shares of the company’s stock valued at $16,105,000 after buying an additional 12,483 shares during the period. Loomis Sayles & Co. L P bought a new position in Generac Holdings during the first quarter valued at approximately $11,642,000. State Street Corp increased its position in Generac Holdings by 1.6% in the first quarter. State Street Corp now owns 1,147,002 shares of the company’s stock valued at $42,709,000 after buying an additional 17,778 shares during the period. Investec Asset Management North America Inc. increased its position in Generac Holdings by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 24,840 shares of the company’s stock valued at $925,000 after buying an additional 7,113 shares during the period. Finally, Investec Asset Management LTD increased its position in Generac Holdings by 0.4% in the first quarter. Investec Asset Management LTD now owns 2,758,750 shares of the company’s stock valued at $102,736,000 after buying an additional 10,080 shares during the period.
Generac Holdings Inc. (NYSE:GNRC) traded down 5.13% during midday trading on Friday, hitting $36.21. The stock had a trading volume of 1,033,633 shares. The company has a market capitalization of $2.38 billion, a PE ratio of 32.80 and a beta of 1.24. The company’s 50-day moving average price is $36.10 and its 200 day moving average price is $36.60. Generac Holdings Inc. has a 52 week low of $26.29 and a 52 week high of $39.59.
Generac Holdings (NYSE:GNRC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. Generac Holdings had a return on equity of 42.86% and a net margin of 5.42%. The company had revenue of $367.40 million for the quarter, compared to the consensus estimate of $355.23 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, analysts expect that Generac Holdings Inc. will post $2.82 EPS for the current year.
Several equities analysts recently commented on the company. 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. Zacks Investment Research downgraded Generac Holdings from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Six analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus 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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