Bank of Montreal Can raised its position in shares of Generac Holdlings Inc. (NYSE:GNRC) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 346,973 shares of the technology company’s stock after buying an additional 17,932 shares during the period. Bank of Montreal Can’s holdings in Generac Holdlings were worth $12,536,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GNRC. Norges Bank purchased a new position in shares of Generac Holdlings during the fourth quarter valued at approximately $25,463,000. Canada Pension Plan Investment Board purchased a new position in shares of Generac Holdlings during the first quarter valued at approximately $768,000. First Trust Advisors LP increased its position in shares of Generac Holdlings by 66.4% in the first quarter. First Trust Advisors LP now owns 160,783 shares of the technology company’s stock valued at $5,994,000 after buying an additional 64,135 shares during the last quarter. Vivaldi Capital Management LLC purchased a new position in shares of Generac Holdlings during the first quarter valued at approximately $8,819,218,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Generac Holdlings during the first quarter valued at approximately $395,000. Institutional investors and hedge funds own 99.80% of the company’s stock.
Generac Holdlings Inc. (NYSE:GNRC) opened at 36.37 on Friday. Generac Holdlings Inc. has a one year low of $32.33 and a one year high of $44.84. The firm has a 50-day moving average of $35.96 and a 200 day moving average of $37.48. The company has a market capitalization of $2.29 billion, a P/E ratio of 23.15 and a beta of 1.40.
Generac Holdlings (NYSE:GNRC) last announced its quarterly earnings data on Thursday, April 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $331.80 million during the quarter, compared to analysts’ expectations of $321.82 million. Generac Holdlings had a net margin of 6.81% and a return on equity of 45.83%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Generac Holdlings Inc. will post $2.95 EPS for the current fiscal year.
GNRC has been the subject of several analyst reports. ValuEngine raised shares of Generac Holdlings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet downgraded shares of Generac Holdlings from a “b” rating to a “c+” rating in a report on Thursday, April 27th. BidaskClub raised shares of Generac Holdlings from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Canaccord Genuity reissued a “hold” rating and issued a $40.00 price target on shares of Generac Holdlings in a report on Friday, April 21st. Finally, Wolfe Research initiated coverage on shares of Generac Holdlings in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Generac Holdlings currently has an average rating of “Hold” and an average target price of $42.00.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $36.50, for a total value of $182,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,049,911 shares of the company’s stock, valued at $38,321,751.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.
About Generac Holdlings
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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