Neo Ivy Capital Management Takes $1.30 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Neo Ivy Capital Management bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,400 shares of the technology company’s stock, valued at approximately $1,302,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. Vanguard Group Inc. boosted its position in shares of Generac by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 6,795,550 shares of the technology company’s stock valued at $1,053,650,000 after purchasing an additional 47,450 shares in the last quarter. Boston Partners lifted its stake in Generac by 39.0% during the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after purchasing an additional 533,612 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Generac by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,441,772 shares of the technology company’s stock worth $223,293,000 after buying an additional 14,844 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after buying an additional 469,575 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Generac by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company’s stock worth $112,961,000 after buying an additional 16,954 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Performance

Shares of GNRC opened at $123.63 on Friday. The company has a market capitalization of $7.30 billion, a PE ratio of 22.89, a PEG ratio of 1.44 and a beta of 1.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The company’s 50 day moving average price is $119.52 and its 200 day moving average price is $145.17. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $195.94.

Generac (NYSE:GNRC) last issued 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 analyst estimates of $921.78 million. During the same quarter last year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of recent research reports. Wall Street Zen downgraded Generac from a “buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity Group cut their target price on Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Janney Montgomery Scott upgraded Generac from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Piper Sandler dropped their price target on Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Robert W. Baird cut their price objective on Generac from $171.00 to $127.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.20.

About Generac

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.