Copper Rock Capital Partners LLC lifted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 878,732 shares of the technology company’s stock after purchasing an additional 112,940 shares during the quarter. Generac accounts for about 2.7% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Copper Rock Capital Partners LLC’s holdings in Generac were worth $43,770,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. EdgePoint Investment Group Inc. grew its holdings in shares of Generac by 13.9% in the second quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock worth $317,060,000 after acquiring an additional 1,069,401 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Generac by 29.0% in the second quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock worth $82,893,000 after acquiring an additional 515,905 shares during the period. Burgundy Asset Management Ltd. grew its holdings in shares of Generac by 3.6% in the third quarter. Burgundy Asset Management Ltd. now owns 1,727,058 shares of the technology company’s stock worth $79,324,000 after acquiring an additional 59,708 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Generac by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,565,700 shares of the technology company’s stock worth $71,912,000 after acquiring an additional 100,711 shares during the period. Finally, State Street Corp grew its holdings in shares of Generac by 5.1% in the second quarter. State Street Corp now owns 1,241,485 shares of the technology company’s stock worth $44,855,000 after acquiring an additional 60,746 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.
Several analysts recently commented on GNRC shares. Bank of America raised Generac from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $50.00 in a report on Friday, September 15th. BidaskClub raised Generac from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of Generac in a report on Sunday, September 10th. Zacks Investment Research lowered Generac from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, TheStreet raised Generac from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $53.00.
Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Generac had a return on equity of 46.06% and a net margin of 7.47%. The business had revenue of $457.25 million during the quarter, compared to analyst estimates of $420.42 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Generac’s revenue for the quarter was up 22.5% on a year-over-year basis. equities analysts anticipate that Generac Holdings Inc. will post 3.22 earnings per share for the current year.
In other Generac news, CMO Russell S. Minick sold 24,085 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $50.92, for a total transaction of $1,226,408.20. Following the completion of the sale, the chief marketing officer now owns 39,369 shares of the company’s stock, valued at $2,004,669.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $52.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 1,029,911 shares of the company’s stock, valued at approximately $53,555,372. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock valued at $2,467,008 in the last three months. 3.00% of the stock is currently owned by corporate insiders.
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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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