Morgan Stanley lowered its position in Generac Holdings Inc. (NYSE:GNRC) by 35.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,674 shares of the technology company’s stock after selling 116,494 shares during the quarter. Morgan Stanley owned 0.34% of Generac worth $19,722,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Generac by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,825 shares of the technology company’s stock valued at $2,220,000 after purchasing an additional 130 shares during the period. CapWealth Advisors LLC grew its holdings in Generac by 0.7% in the 1st quarter. CapWealth Advisors LLC now owns 21,646 shares of the technology company’s stock valued at $1,502,000 after buying an additional 140 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Generac by 5.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,910 shares of the technology company’s stock valued at $271,000 after acquiring an additional 141 shares during the last quarter. AlphaCrest Capital Management LLC lifted its holdings in shares of Generac by 1.9% during the 1st quarter. AlphaCrest Capital Management LLC now owns 7,768 shares of the technology company’s stock worth $724,000 after acquiring an additional 148 shares during the period. Finally, Squar Milner Financial Services LLC boosted its position in shares of Generac by 16.8% in the first quarter. Squar Milner Financial Services LLC now owns 1,080 shares of the technology company’s stock worth $100,000 after acquiring an additional 155 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.
GNRC has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Generac from $125.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $113.00 target price on shares of Generac in a report on Friday, May 1st. Zacks Investment Research raised Generac from a “sell” rating to a “hold” rating in a research report on Monday, June 8th. Oppenheimer reiterated a “buy” rating and set a $120.00 target price on shares of Generac in a report on Tuesday, June 23rd. Finally, William Blair raised shares of Generac from a “market perform” rating to an “outperform” rating in a research report on Friday, March 27th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Generac currently has an average rating of “Hold” and an average price target of $118.80.
Shares of NYSE:GNRC opened at $121.93 on Wednesday. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 4.30 and a beta of 0.92. The company has a 50 day moving average of $111.58 and a two-hundred day moving average of $103.68. Generac Holdings Inc. has a 52-week low of $68.23 and a 52-week high of $123.19. The company has a quick ratio of 1.34, a current ratio of 2.50 and a debt-to-equity ratio of 0.97.
Generac (NYSE:GNRC) last announced its earnings results on Thursday, April 30th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. Generac had a net margin of 11.39% and a return on equity of 32.73%. The business had revenue of $475.90 million during the quarter, compared to the consensus estimate of $473.87 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Generac Holdings Inc. will post 4.25 earnings per share for the current year.
In other news, EVP Erik Wilde sold 10,092 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $117.07, for a total transaction of $1,181,470.44. Following the completion of the transaction, the executive vice president now directly owns 15,649 shares in the company, valued at approximately $1,832,028.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Russell S. Minick sold 32,686 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $99.70, for a total transaction of $3,258,794.20. Following the sale, the chief marketing officer now directly owns 14,150 shares of the company’s stock, valued at approximately $1,410,755. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,978 shares of company stock valued at $5,564,285. 2.90% of the stock is currently owned by corporate insiders.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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