Trade Report: The Kornitzer Capital Management Inc. KS reduces its investment in Generac Holdings Inc. (GNRC)

The Kornitzer Capital Management Inc. KS reduces its investment in Generac Holdings Inc. (GNRC)

Kornitzer Capital Management Inc. KS cut its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 430,845 shares of the company’s stock after selling 60,410 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Generac Holdings were worth $15,062,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. State Street Corp boosted its stake in Generac Holdings by 1.6% in the first quarter. State Street Corp now owns 1,147,002 shares of the company’s stock valued at $42,709,000 after buying an additional 17,778 shares in the last quarter. Scopia Capital Management LP purchased a new stake in Generac Holdings during the first quarter valued at about $35,581,000. Kennedy Capital Management Inc. boosted its stake in Generac Holdings by 4.7% in the first quarter. Kennedy Capital Management Inc. now owns 467,924 shares of the company’s stock valued at $17,425,000 after buying an additional 21,020 shares in the last quarter. Skyline Asset Management LP purchased a new stake in Generac Holdings during the first quarter valued at about $16,728,000. Finally, Geode Capital Management LLC boosted its stake in Generac Holdings by 3.0% in the first quarter. Geode Capital Management LLC now owns 432,486 shares of the company’s stock valued at $16,105,000 after buying an additional 12,483 shares in the last quarter.

Shares of Generac Holdings Inc. (NYSE:GNRC) traded up 0.22% on Friday, hitting $35.82. 307,647 shares of the stock traded hands. Generac Holdings Inc. has a one year low of $26.29 and a one year high of $39.59. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 32.45 and a beta of 1.24. The company’s 50 day moving average is $35.94 and its 200 day moving average is $36.56.

Generac Holdings (NYSE:GNRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Generac Holdings had a net margin of 5.42% and a return on equity of 42.86%. The business had revenue of $367.40 million for the quarter, compared to analysts’ expectations of $355.23 million. During the same period in the previous year, the business earned $0.50 earnings per share. The company’s revenue was up 27.4% on a year-over-year basis. On average, equities analysts forecast that Generac Holdings Inc. will post $2.82 EPS for the current year.

GNRC has been the topic of several analyst reports. Zacks Investment Research raised shares of Generac Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Bank of America Corp. cut shares of Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research note on Monday, August 1st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $36.00.

Generac Holdings Company Profile

Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.

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