Quantedge Capital Pte Ltd Invests $2.23 Million in Generac Holdings Inc. (NYSE:GNRC)

Quantedge Capital Pte Ltd bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,400 shares of the technology company’s stock, valued at approximately $2,233,000.

Several other large investors also recently made changes to their positions in GNRC. Barclays PLC grew its holdings in shares of Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Generac by 106.1% in the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after acquiring an additional 14,811 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Generac by 5.0% in the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after acquiring an additional 3,426 shares during the last quarter. Czech National Bank boosted its holdings in Generac by 5.3% in the fourth quarter. Czech National Bank now owns 12,901 shares of the technology company’s stock valued at $2,000,000 after acquiring an additional 648 shares during the last quarter. Finally, Fiduciary Financial Group LLC bought a new position in Generac in the fourth quarter valued at about $287,000. Institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GNRC shares. Robert W. Baird decreased their price target on Generac from $171.00 to $127.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus decreased their price target on Generac from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their price target on Generac from $165.00 to $128.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Janney Montgomery Scott upgraded Generac from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average price target of $167.20.

Generac Trading Down 0.4%

Shares of Generac stock opened at $128.52 on Thursday. The firm has a 50-day moving average of $120.18 and a 200-day moving average of $147.24. The stock has a market cap of $7.59 billion, a PE ratio of 23.80, a PEG ratio of 1.44 and a beta of 1.73. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.27. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company had revenue of $942.12 million during the quarter, compared to analysts’ expectations of $921.78 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. Generac’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.