Ascent Group LLC Increases Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Ascent Group LLC grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 17.2% in the second quarter, HoldingsChannel.com reports. The fund owned 4,190 shares of the technology company’s stock after purchasing an additional 615 shares during the period. Ascent Group LLC’s holdings in Generac were worth $554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors raised its holdings in Generac by 2.1% in the first 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 bought a new position in Generac in the second quarter worth approximately $98,282,000. Dimensional Fund Advisors LP lifted its position in Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Generac by 0.7% during the 2nd 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 during the period. Finally, Blair William & Co. IL increased its stake in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $158.19 on Wednesday. The company has a market cap of $9.59 billion, a PE ratio of 43.58, a P/E/G ratio of 1.88 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. The firm’s 50 day moving average price is $148.56 and its 200-day moving average price is $141.47.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business’s revenue was down .2% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 6.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GNRC. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Robert W. Baird raised their price objective on Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Roth Mkm boosted their target price on Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Canaccord Genuity Group raised their price target on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Northland Securities boosted their price objective 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Generac presently has an average rating of “Hold” and an average target price of $154.71.

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.