Invenomic Capital Management LP Has $4.65 Million Stock Holdings in Generac Holdings Inc. $GNRC

Invenomic Capital Management LP decreased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 62.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,763 shares of the technology company’s stock after selling 46,603 shares during the period. Invenomic Capital Management LP’s holdings in Generac were worth $4,648,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Gotham Asset Management LLC grew its stake in shares of Generac by 1.4% in the 3rd quarter. Gotham Asset Management LLC now owns 239,173 shares of the technology company’s stock valued at $40,038,000 after purchasing an additional 3,353 shares during the period. Focus Partners Wealth lifted its position in shares of Generac by 631.0% during the 3rd quarter. Focus Partners Wealth now owns 55,043 shares of the technology company’s stock worth $9,210,000 after buying an additional 47,513 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Generac during the 3rd quarter worth approximately $226,000. California Public Employees Retirement System boosted its stake in Generac by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 109,032 shares of the technology company’s stock valued at $18,252,000 after buying an additional 4,786 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in Generac by 15.0% in the third quarter. Bank of Nova Scotia now owns 4,079 shares of the technology company’s stock valued at $683,000 after acquiring an additional 531 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Price Performance

Generac stock opened at $202.36 on Tuesday. The business’s fifty day moving average is $192.25 and its two-hundred day moving average is $174.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The firm has a market cap of $11.87 billion, a P/E ratio of 75.51, a P/E/G ratio of 1.46 and a beta of 1.74. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $241.09.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share. Equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GNRC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. Canaccord Genuity Group set a $275.00 target price on shares of Generac in a research note on Thursday, February 12th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Monday, December 8th. Barclays lifted their price target on shares of Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $235.00 price target on shares of Generac in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

Insiders Place Their Bets

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.