Candelo Capital Management LP Invests $3.58 Million in Generac Holdings Inc. (NYSE:GNRC)

Candelo Capital Management LP purchased a new position in Generac Holdings Inc. (NYSE:GNRCFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,700 shares of the technology company’s stock, valued at approximately $3,580,000. Generac comprises 2.8% of Candelo Capital Management LP’s investment portfolio, making the stock its 15th largest position.

A number of other hedge funds have also recently made changes to their positions in GNRC. Capital World Investors bought a new stake in shares of Generac in the 4th quarter valued at about $155,707,000. Norges Bank bought a new stake in shares of Generac in the 4th quarter valued at about $67,253,000. Ariel Investments LLC boosted its holdings in shares of Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock valued at $219,047,000 after buying an additional 261,050 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Generac by 42.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,139 shares of the technology company’s stock valued at $70,839,000 after buying an additional 194,265 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Generac by 108.6% in the 3rd quarter. Blair William & Co. IL now owns 284,345 shares of the technology company’s stock valued at $30,982,000 after buying an additional 148,017 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Up 2.0 %

NYSE GNRC traded up $2.98 on Tuesday, reaching $154.20. 1,069,464 shares of the company were exchanged, compared to its average volume of 1,064,990. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $131.51 and its 200 day moving average price is $122.82. The stock has a market capitalization of $9.35 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $156.95.

Generac (NYSE:GNRCGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Generac’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that Generac Holdings Inc. will post 6.08 earnings per share for the current year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares in the company, valued at $82,175,421.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the sale, the director now owns 3,512 shares in the company, valued at approximately $493,611.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the transaction, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The disclosure for this sale can be found here. Insiders sold 10,546 shares of company stock worth $1,411,190 in the last 90 days. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GNRC shares. Citigroup increased their price objective on shares of Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Canaccord Genuity Group increased their price objective on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, April 5th. UBS Group decreased their price objective on shares of Generac from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Roth Mkm raised their price target on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group raised their price target on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.40.

Check Out Our Latest Report on Generac

Generac Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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