Soviero Asset Management LP Decreases Holdings in Generac Holdings Inc. (NYSE:GNRC)

Soviero Asset Management LP cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 63.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,000 shares of the technology company’s stock after selling 30,000 shares during the quarter. Soviero Asset Management LP’s holdings in Generac were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GNRC. Barclays PLC raised its stake in Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock valued at $29,425,000 after buying an additional 54,202 shares during the last quarter. Principal Financial Group Inc. raised its stake in Generac by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after buying an additional 3,426 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Generac by 462.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 46,147 shares of the technology company’s stock valued at $7,155,000 after buying an additional 37,947 shares during the last quarter. Merit Financial Group LLC raised its stake in Generac by 18.9% during the 4th quarter. Merit Financial Group LLC now owns 2,192 shares of the technology company’s stock valued at $340,000 after buying an additional 349 shares during the last quarter. Finally, Herbst Group LLC purchased a new stake in Generac during the 4th quarter valued at $2,077,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Canaccord Genuity Group reduced their price objective on Generac from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Robert W. Baird reduced their price objective on Generac from $171.00 to $127.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Guggenheim upgraded Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. TD Securities reduced their price objective on Generac from $173.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Citigroup upgraded Generac from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $162.00 to $138.00 in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $167.20.

Generac Stock Performance

GNRC opened at $129.55 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.44 and a beta of 1.73. The company has a fifty day moving average of $120.06 and a 200 day moving average of $146.47. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.27. The firm had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a return on equity of 18.17% and a net margin of 7.36%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Generac Profile

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.