The Scopia Capital Management LP Takes Position in Generac Holdings Inc. (GNRC)

The Scopia Capital Management LP Takes Position in Generac Holdings Inc. (GNRC)

Scopia Capital Management LP purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,129,536 shares of the company’s stock, valued at approximately $41,002,000. Generac Holdings accounts for about 0.7% of Scopia Capital Management LP’s holdings, making the stock its 23rd largest position. Scopia Capital Management LP owned approximately 1.77% of Generac Holdings as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. WFG Advisors LP boosted its stake in shares of Generac Holdings by 12.7% in the second quarter. WFG Advisors LP now owns 3,586 shares of the company’s stock valued at $125,000 after buying an additional 404 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Generac Holdings by 433.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,642 shares of the company’s stock valued at $127,000 after buying an additional 2,959 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Generac Holdings during the third quarter valued at $134,000. BNP Paribas Arbitrage SA raised its position in Generac Holdings by 108.8% in the third quarter. BNP Paribas Arbitrage SA now owns 5,584 shares of the company’s stock valued at $203,000 after buying an additional 2,910 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in Generac Holdings during the second quarter valued at $204,000.

Generac Holdings Inc. (NYSE:GNRC) opened at 37.86 on Thursday. The firm has a 50-day moving average of $41.28 and a 200-day moving average of $38.08. Generac Holdings Inc. has a 52 week low of $27.11 and a 52 week high of $43.68. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 37.75 and a beta of 1.09.

Generac Holdings (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business earned $373.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. Equities analysts forecast that Generac Holdings Inc. will post $2.85 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Bank of America Corp. lowered shares of Generac Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $39.00 to $35.00 in a research note on Friday, January 13th. Zacks Investment Research raised shares of Generac Holdings from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, October 27th. Finally, Robert W. Baird set a $46.00 price objective on shares of Generac Holdings and gave the stock a “buy” rating in a research note on Thursday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.25.

In related news, EVP Russell S. Minick sold 42,871 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $41.64, for a total value of $1,785,148.44. Following the completion of the transaction, the executive vice president now owns 60,854 shares in the company, valued at approximately $2,533,960.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO York A. Ragen sold 26,685 shares of the firm’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 owns 121,246 shares of the company’s stock, valued at approximately $5,001,397.50. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

Generac Holdings Company Profile

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.

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