Wellington Management Group LLP Decreases Stake in Generac Holdlings Inc. (GNRC)
Wellington Management Group LLP decreased its stake in Generac Holdlings Inc. (NYSE:GNRC) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,682,879 shares of the technology company’s stock after selling 269,596 shares during the period. Wellington Management Group LLP owned 2.39% of Generac Holdlings worth $62,738,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Generac Holdlings by 8.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,486 shares of the technology company’s stock valued at $101,000 after buying an additional 201 shares in the last quarter. Victory Capital Management Inc. raised its stake in Generac Holdlings by 51.8% in the first quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock valued at $122,000 after buying an additional 1,116 shares in the last quarter. Pacad Investment Ltd. raised its stake in Generac Holdlings by 272.7% in the fourth quarter. Pacad Investment Ltd. now owns 4,100 shares of the technology company’s stock valued at $167,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Generac Holdlings during the fourth quarter valued at $208,000. Finally, Karp Capital Management Corp bought a new stake in Generac Holdlings during the first quarter valued at $219,000.
Generac Holdlings Inc. (NYSE:GNRC) traded down 1.11% during mid-day trading on Friday, reaching $35.60. The company had a trading volume of 424,906 shares. The stock has a market cap of $2.24 billion, a PE ratio of 22.66 and a beta of 1.35. The firm’s 50-day moving average price is $35.51 and its 200-day moving average price is $38.43. Generac Holdlings Inc. has a 12 month low of $32.33 and a 12 month high of $44.84.
Generac Holdlings (NYSE:GNRC) last announced its earnings results on Thursday, April 27th. The technology company reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $331.80 million during the quarter, compared to analyst estimates of $321.82 million. Generac Holdlings had a net margin of 6.81% and a return on equity of 45.83%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Equities research analysts forecast that Generac Holdlings Inc. will post $2.95 EPS for the current fiscal year.
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Several analysts have recently commented on GNRC shares. ValuEngine cut Generac Holdlings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 target price on shares of Generac Holdlings in a research report on Friday, April 21st. TheStreet cut Generac Holdlings from a “b” rating to a “c+” rating in a research report on Thursday, April 27th. Finally, Zacks Investment Research raised Generac Holdlings from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $42.00.
Generac Holdlings Company Profile
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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