Generac Holdings Inc. (NYSE:GNRC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its stake in Generac Holdings Inc. (NYSE:GNRC) by 51.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,466 shares of the technology company’s stock after selling 111,134 shares during the quarter. AQR Capital Management LLC owned approximately 0.17% of Generac worth $13,680,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GNRC. Kingfisher Capital LLC grew its position in shares of Generac by 18.0% in the second quarter. Kingfisher Capital LLC now owns 1,967 shares of the technology company’s stock valued at $260,000 after purchasing an additional 300 shares during the period. Apis Capital Advisors LLC boosted its stake in Generac by 61.1% in the 2nd quarter. Apis Capital Advisors LLC now owns 58,000 shares of the technology company’s stock worth $7,669,000 after buying an additional 22,000 shares during the last quarter. Xponance Inc. grew its holdings in Generac by 48.7% in the 2nd quarter. Xponance Inc. now owns 7,869 shares of the technology company’s stock valued at $1,040,000 after buying an additional 2,577 shares during the period. Bank of Montreal Can increased its stake in shares of Generac by 4.3% during the 2nd quarter. Bank of Montreal Can now owns 97,617 shares of the technology company’s stock valued at $13,496,000 after acquiring an additional 4,038 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Generac by 11.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 10,277 shares of the technology company’s stock worth $1,359,000 after acquiring an additional 1,018 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Ratings Changes

GNRC has been the topic of several research reports. Wells Fargo & Company increased their target price on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen raised their price objective on Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $175.00 target price on shares of Generac in a research report on Tuesday, September 24th. Northland Securities lifted their price target on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $154.71.

Generac Stock Performance

Shares of GNRC opened at $158.19 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $169.57. The firm has a fifty day moving average of $148.56 and a 200-day moving average of $141.47. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, equities analysts anticipate that Generac Holdings Inc. will post 6.5 earnings per share for the current year.

About Generac

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.