Kendall Capital Management Lowers Position in Generac Holdings Inc. (NYSE:GNRC)

Kendall Capital Management reduced its stake in Generac Holdings Inc. (NYSE:GNRC) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,230 shares of the technology company’s stock after selling 850 shares during the period. Generac makes up approximately 1.3% of Kendall Capital Management’s portfolio, making the stock its 26th biggest position. Kendall Capital Management’s holdings in Generac were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GNRC. Brinker Capital Inc. increased its position in shares of Generac by 34.8% during the second quarter. Brinker Capital Inc. now owns 6,836 shares of the technology company’s stock valued at $834,000 after acquiring an additional 1,763 shares during the last quarter. ARP Americas LP purchased a new position in shares of Generac during the 2nd quarter worth approximately $585,000. Peregrine Capital Management LLC acquired a new stake in Generac in the 2nd quarter valued at approximately $14,075,000. State of Michigan Retirement System raised its position in Generac by 31.1% in the second quarter. State of Michigan Retirement System now owns 22,808 shares of the technology company’s stock valued at $2,781,000 after purchasing an additional 5,408 shares during the period. Finally, M&T Bank Corp acquired a new position in Generac during the second quarter worth $303,000. 98.47% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on GNRC shares. KeyCorp reissued a “hold” rating on shares of Generac in a research note on Monday, July 20th. Northcoast Research raised shares of Generac from a “neutral” rating to a “buy” rating in a research report on Friday. Canaccord Genuity upgraded shares of Generac from a “hold” rating to a “buy” rating and lifted their price objective for the company from $113.00 to $200.00 in a report on Friday. Roth Capital upped their target price on shares of Generac from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird raised their price target on shares of Generac from $117.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, June 19th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $141.73.

Shares of GNRC traded up $9.74 during midday trading on Friday, reaching $157.58. The stock had a trading volume of 1,066,614 shares, compared to its average volume of 619,634. Generac Holdings Inc. has a 1-year low of $69.00 and a 1-year high of $157.65. The company’s fifty day simple moving average is $123.91 and its two-hundred day simple moving average is $108.31. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 5.49 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.66 and a quick ratio of 1.34.

Generac (NYSE:GNRC) last issued its earnings results on Thursday, July 30th. The technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.48. The firm had revenue of $546.80 million during the quarter, compared to the consensus estimate of $476.86 million. Generac had a net margin of 11.55% and a return on equity of 32.25%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. On average, sell-side analysts forecast that Generac Holdings Inc. will post 4.42 earnings per share for the current year.

In related news, CMO Russell S. Minick sold 32,686 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $99.70, for a total value of $3,258,794.20. Following the transaction, the chief marketing officer now directly owns 14,150 shares of the company’s stock, valued at approximately $1,410,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $124.63, for a total transaction of $623,150.00. Following the sale, the chief executive officer now owns 676,240 shares in the company, valued at $84,279,791.20. The disclosure for this sale can be found here. Insiders have sold a total of 53,978 shares of company stock worth $5,709,935 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Generac 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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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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