Generac Holdings Inc. (NYSE:GNRC) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 36.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,055 shares of the technology company’s stock after selling 7,035 shares during the period. Sawgrass Asset Management LLC’s holdings in Generac were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Investec Asset Management North America Inc. increased its position in Generac by 15.9% in the first quarter. Investec Asset Management North America Inc. now owns 31,056 shares of the technology company’s stock worth $1,591,000 after buying an additional 4,265 shares during the period. Wakefield Asset Management LLLP increased its position in Generac by 38.7% in the first quarter. Wakefield Asset Management LLLP now owns 12,068 shares of the technology company’s stock worth $618,000 after buying an additional 3,366 shares during the period. Federated Investors Inc. PA increased its position in Generac by 3.5% in the first quarter. Federated Investors Inc. PA now owns 302,251 shares of the technology company’s stock worth $15,484,000 after buying an additional 10,361 shares during the period. Kendall Capital Management acquired a new stake in Generac in the first quarter worth $418,000. Finally, WINTON GROUP Ltd acquired a new stake in Generac in the second quarter worth $520,000. 94.23% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $55.86, for a total value of $1,117,200.00. Following the completion of the transaction, the chief executive officer now owns 681,043 shares of the company’s stock, valued at $38,043,061.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Several equities research analysts have weighed in on GNRC shares. Northcoast Research raised Generac from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 3rd. Zacks Investment Research lowered Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. ValuEngine cut Generac from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America reissued a “buy” rating and issued a $83.00 price target (up previously from $75.00) on shares of Generac in a research note on Thursday, June 27th. Finally, Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $64.00 to $86.00 in a research note on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $71.17.

Shares of NYSE:GNRC traded up $0.08 on Friday, hitting $71.00. The company’s stock had a trading volume of 547,221 shares, compared to its average volume of 415,021. Generac Holdings Inc. has a 12 month low of $45.43 and a 12 month high of $73.86. The firm has a market capitalization of $4.50 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 2.37 and a beta of 1.23. The company’s 50-day moving average price is $70.04. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 1.25.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Generac had a return on equity of 41.59% and a net margin of 11.84%. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $538.96 million. During the same quarter in the prior year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Generac Holdings Inc. will post 4.68 earnings per share for the current year.

Generac Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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