Sumitomo Mitsui DS Asset Management Company Ltd Has $2.06 Million Holdings in Generac Holdings Inc. (NYSE:GNRC)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Generac Holdings Inc. (NYSE:GNRCGet Rating) by 7.9% in the second quarter, Holdings Channel reports. The firm owned 9,786 shares of the technology company’s stock after purchasing an additional 718 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Generac were worth $2,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Aldebaran Financial Inc. raised its stake in Generac by 2.7% in the fourth quarter. Aldebaran Financial Inc. now owns 1,355 shares of the technology company’s stock valued at $477,000 after purchasing an additional 35 shares in the last quarter. Neville Rodie & Shaw Inc. raised its stake in Generac by 2.2% during the first quarter. Neville Rodie & Shaw Inc. now owns 1,620 shares of the technology company’s stock worth $488,000 after acquiring an additional 35 shares in the last quarter. IAG Wealth Partners LLC raised its stake in Generac by 40.0% during the fourth quarter. IAG Wealth Partners LLC now owns 140 shares of the technology company’s stock worth $49,000 after acquiring an additional 40 shares in the last quarter. American National Bank raised its stake in Generac by 59.2% during the first quarter. American National Bank now owns 121 shares of the technology company’s stock worth $36,000 after acquiring an additional 45 shares in the last quarter. Finally, CapWealth Advisors LLC raised its stake in Generac by 0.3% during the first quarter. CapWealth Advisors LLC now owns 17,938 shares of the technology company’s stock worth $5,332,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.

Generac Price Performance

Generac stock opened at $171.08 on Friday. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.54 and a beta of 1.33. Generac Holdings Inc. has a 52-week low of $170.17 and a 52-week high of $524.31. The stock’s 50 day moving average price is $236.69 and its two-hundred day moving average price is $249.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 2.13.

Generac (NYSE:GNRCGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.39 EPS. On average, equities analysts predict that Generac Holdings Inc. will post 11.9 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the transaction, the chief executive officer now directly owns 610,975 shares in the company, valued at approximately $161,883,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. OTR Global downgraded Generac from a “mixed” rating to a “negative” rating in a research note on Friday, July 22nd. Oppenheimer lowered their target price on Generac from $360.00 to $345.00 and set an “outperform” rating for the company in a research note on Monday, August 8th. Robert W. Baird boosted their target price on Generac from $250.00 to $275.00 in a research note on Thursday, August 4th. Wells Fargo & Company began coverage on Generac in a report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 price target on the stock. Finally, KeyCorp reduced their price target on Generac from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $414.86.

Generac Company Profile

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

See Also

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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