King Luther Capital Management Corp Sells 12,849 Shares of Generac Holdings Inc. (NYSE:GNRC)

King Luther Capital Management Corp decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 490,582 shares of the technology company’s stock after selling 12,849 shares during the period. King Luther Capital Management Corp owned 0.81% of Generac worth $64,865,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital World Investors lifted its holdings in Generac by 2.1% in the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock worth $155,207,000 after purchasing an additional 25,646 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Generac in the second quarter worth $98,282,000. Dimensional Fund Advisors LP boosted its position in shares of Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after acquiring an additional 35,026 shares during the last quarter. Norges Bank bought a new position in shares of Generac during the fourth quarter worth $67,253,000. Finally, Ninety One UK Ltd grew its stake in Generac by 0.7% during the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Guggenheim lowered Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective for the company. in a research report on Thursday, May 30th. Janney Montgomery Scott downgraded Generac from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of Generac from $129.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $154.71.

Generac Stock Down 0.2 %

Shares of NYSE GNRC opened at $142.91 on Friday. The stock has a 50 day moving average price of $149.50 and a 200 day moving average price of $139.31. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $169.57. 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 (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The business’s revenue was down .2% compared to the same quarter last year. Sell-side analysts expect that Generac Holdings Inc. will post 6.52 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.