Mutual of America Capital Management LLC held its stake in Generac Holdings Inc. (NYSE:GNRC) during the third quarter, Holdings Channel reports. The institutional investor owned 64,788 shares of the company’s stock at the end of the third quarter. Mutual of America Capital Management LLC’s holdings in Generac Holdings were worth $2,352,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Rothschild Asset Management Inc. bought a new stake in Generac Holdings during the second quarter valued at approximately $14,539,000. Loomis Sayles & Co. L P boosted its stake in Generac Holdings by 132.8% in the second quarter. Loomis Sayles & Co. L P now owns 727,830 shares of the company’s stock valued at $25,445,000 after buying an additional 415,192 shares during the period. Renaissance Technologies LLC bought a new stake in Generac Holdings during the first quarter valued at approximately $12,911,000. UBS Asset Management Americas Inc. boosted its stake in Generac Holdings by 560.6% in the second quarter. UBS Asset Management Americas Inc. now owns 377,135 shares of the company’s stock valued at $13,185,000 after buying an additional 320,041 shares during the period. Finally, Pictet Asset Management Ltd. bought a new stake in Generac Holdings during the second quarter valued at approximately $9,951,000.
Generac Holdings Inc. (NYSE:GNRC) traded down 1.02% during midday trading on Monday, reaching $41.57. 345,687 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $38.47 and its 200 day moving average price is $36.94. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 41.45 and a beta of 1.05. Generac Holdings Inc. has a 1-year low of $26.29 and a 1-year high of $42.32.
Generac Holdings (NYSE:GNRC) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The business earned $373.10 million during the quarter, compared to analysts’ expectations of $363.10 million. Generac Holdings had a net margin of 4.80% and a return on equity of 42.39%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Equities research analysts anticipate that Generac Holdings Inc. will post $2.84 EPS for the current year.
GNRC has been the topic of a number of recent research reports. Bank of America Corp. cut shares of Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Monday, August 1st. They noted that the move was a valuation call. 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. Finally, Robert W. Baird set a $46.00 price objective on shares of Generac Holdings and gave the company a “buy” rating in a research note on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $41.25.
In related news, CFO York A. Ragen sold 26,685 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $41.25, for a total transaction of $1,100,756.25. Following the completion of the transaction, the chief financial officer now directly owns 121,246 shares in the company, valued at approximately $5,001,397.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.
About Generac Holdings
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.