Ameriprise Financial Inc. lowered its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 22.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,617 shares of the company’s stock after selling 40,931 shares during the period. Ameriprise Financial Inc. owned approximately 0.21% of Generac Holdings worth $4,880,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in GNRC. 1st Global Advisors Inc. raised its stake in Generac Holdings by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,755 shares of the company’s stock valued at $376,000 after buying an additional 50 shares during the last quarter. DIAM Co. Ltd. raised its stake in Generac Holdings by 16.1% in the second quarter. DIAM Co. Ltd. now owns 10,800 shares of the company’s stock valued at $378,000 after buying an additional 1,500 shares during the last quarter. Bayesian Capital Management LP raised its stake in Generac Holdings by 43.4% in the first quarter. Bayesian Capital Management LP now owns 11,900 shares of the company’s stock valued at $443,000 after buying an additional 3,600 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Generac Holdings by 3.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 12,888 shares of the company’s stock valued at $451,000 after buying an additional 400 shares during the last quarter. Finally, Ngam Advisors L.P. raised its stake in Generac Holdings by 11.3% in the first quarter. Ngam Advisors L.P. now owns 13,490 shares of the company’s stock valued at $502,000 after buying an additional 1,372 shares during the last quarter.
Shares of Generac Holdings Inc. (NYSE:GNRC) traded up 0.22% during trading on Friday, hitting $35.82. The stock had a trading volume of 313,230 shares. 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 $2.36 billion, a price-to-earnings ratio of 32.45 and a beta of 1.24. The company’s 50 day moving average price is $35.88 and its 200 day moving average price is $36.56.
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. Equities research analysts expect that Generac Holdings Inc. will post $2.82 earnings per share for the current fiscal year.
A number of analysts have weighed in on GNRC shares. Bank of America Corp. lowered Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research note on Monday, August 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Generac Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $36.00.
About Generac Holdings
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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