Redwood Grove Capital LLC Sells 60,058 Shares of Generac Holdings Inc. (NYSE:GNRC)

Redwood Grove Capital LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 42.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,380 shares of the technology company’s stock after selling 60,058 shares during the period. Generac comprises approximately 3.9% of Redwood Grove Capital LLC’s holdings, making the stock its 15th largest holding. Redwood Grove Capital LLC owned approximately 0.14% of Generac worth $12,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GNRC. Redwood Investment Management LLC bought a new stake in shares of Generac during the fourth quarter valued at approximately $1,436,000. ProShare Advisors LLC increased its holdings in Generac by 31.7% during the 4th quarter. ProShare Advisors LLC now owns 11,032 shares of the technology company’s stock worth $1,711,000 after purchasing an additional 2,658 shares during the period. Quantedge Capital Pte Ltd bought a new stake in Generac during the 4th quarter valued at $2,233,000. Quantinno Capital Management LP lifted its holdings in shares of Generac by 620.7% in the 4th quarter. Quantinno Capital Management LP now owns 16,042 shares of the technology company’s stock worth $2,487,000 after buying an additional 13,816 shares during the period. Finally, Mufg Securities Americas Inc. bought a new position in shares of Generac during the 4th quarter worth $136,000. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Down 0.4%

Shares of GNRC opened at $128.52 on Thursday. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The stock has a market cap of $7.59 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.73. The firm’s fifty day moving average is $120.18 and its two-hundred day moving average is $147.24. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The firm had revenue of $942.12 million for the quarter, compared to the consensus estimate of $921.78 million. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on GNRC shares. Robert W. Baird decreased their price objective on Generac from $171.00 to $127.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group reduced their price target on shares of Generac from $200.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, May 1st. TD Cowen lowered their price target on shares of Generac from $173.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. UBS Group lifted their price objective on shares of Generac from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Piper Sandler lowered their target price on Generac from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.20.

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.