Generac Holdings Inc. $GNRC Shares Acquired by Invenomic Capital Management LP

by · The Markets Daily

Invenomic Capital Management LP lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 72.4% during the fourth quarter, HoldingsChannel reports. The fund owned 47,854 shares of the technology company’s stock after acquiring an additional 20,091 shares during the quarter. Invenomic Capital Management LP’s holdings in Generac were worth $6,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Atreides Management LP acquired a new position in shares of Generac during the fourth quarter worth about $24,924,000. Balyasny Asset Management L.P. increased its stake in shares of Generac by 15,166.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 249,143 shares of the technology company’s stock worth $33,976,000 after acquiring an additional 247,511 shares during the period. Coatue Management LLC acquired a new position in shares of Generac during the fourth quarter worth about $50,349,000. EFG International AG acquired a new position in shares of Generac during the fourth quarter worth about $187,000. Finally, Equitable Holdings Inc. increased its stake in shares of Generac by 1.9% during the fourth quarter. Equitable Holdings Inc. now owns 6,817 shares of the technology company’s stock worth $930,000 after acquiring an additional 128 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares in the company, valued at $4,385,564.08. This trade represents a 3.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Wells Fargo & Company boosted their price objective on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.65.

Read Our Latest Stock Report on Generac

Generac Stock Up 0.8%

GNRC stock opened at $267.79 on Thursday. The company has a market cap of $15.76 billion, a P/E ratio of 83.95, a P/E/G ratio of 2.49 and a beta of 1.93. Generac Holdings Inc. has a 52 week low of $124.16 and a 52 week high of $294.18. The company’s 50-day moving average price is $248.15 and its 200 day moving average price is $204.45. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Generac Company Profile

(Free Report)

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.

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