Condor Capital Management Invests $1.41 Million in Generac Holdings Inc. (NYSE:GNRC)

Condor Capital Management bought a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 10,649 shares of the technology company’s stock, valued at approximately $1,408,000.

Several other large investors have also recently added to or reduced their stakes in the business. Capital World Investors grew its stake in shares of Generac by 2.1% during the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after buying an additional 25,646 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Generac by 23.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock valued at $78,854,000 after acquiring an additional 115,728 shares during the period. Norges Bank purchased a new position in shares of Generac in the 4th quarter valued at $67,253,000. Ninety One UK Ltd lifted its holdings 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 in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in Generac by 1.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 415,583 shares of the technology company’s stock worth $52,422,000 after purchasing an additional 3,975 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by insiders.

Generac Stock Performance

Shares of NYSE GNRC opened at $140.53 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $149.59 and its two-hundred day moving average price is $138.46. The stock has a market capitalization of $8.45 billion, a P/E ratio of 38.71, a P/E/G ratio of 1.83 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.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 6.52 earnings per share for the current year.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of recent research reports. Janney Montgomery Scott cut Generac from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. Scotiabank upped their price target on Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Canaccord Genuity Group boosted their target price on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird raised their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac currently has a consensus rating of “Hold” and an average price target of $154.71.

Generac Company 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.