Invenomic Capital Management LP Sells 46,603 Shares of Generac Holdings Inc. $GNRC

Invenomic Capital Management LP trimmed its position in Generac Holdings Inc. (NYSE:GNRC) by 62.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,763 shares of the technology company’s stock after selling 46,603 shares during the quarter. Invenomic Capital Management LP’s holdings in Generac were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter worth $25,000. First Horizon Corp bought a new stake in Generac during the third quarter valued at about $28,000. Sentry Investment Management LLC grew its position in shares of Generac by 69.8% in 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 worth about $41,000. Finally, Red Tortoise LLC bought a new position in shares of Generac in the third quarter worth about $42,000. 84.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

GNRC has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on Generac in a research note on Monday, January 12th. They set a “buy” rating and a $211.00 target price for the company. TD Cowen lifted their price target on Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Barclays upped their price target on Generac from $186.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Canaccord Genuity Group set a $275.00 price objective on Generac in a research report on Thursday, February 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $222.06.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s 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 sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

Generac Trading Up 0.9%

Shares of GNRC opened at $202.36 on Tuesday. The stock’s 50-day moving average price is $192.25 and its 200 day moving average price is $174.40. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 75.51, a P/E/G ratio of 1.46 and a beta of 1.74. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month high of $241.09.

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

Generac 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.