Kestrel Investment Management Corp Lowers stake in Generac Holdings (GNRC)

Generac Holdings (GNRC) : Kestrel Investment Management Corp reduced its stake in Generac Holdings by 11.42% during the most recent quarter end. The investment management company now holds a total of 245,775 shares of Generac Holdings which is valued at $8,783,999 after selling 31,700 shares in Generac Holdings , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Generac Holdings makes up approximately 3.36% of Kestrel Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in GNRC in the latest quarter, The investment management firm added 6,734 additional shares and now holds a total of 480,443 shares of Generac Holdings which is valued at $17,171,033. Generac Holdings makes up approx 0.02% of Oppenheimerfunds’s portfolio.Gagnon Securities reduced its stake in GNRC by selling 211 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 33,863 shares of GNRC which is valued at $1,210,264. Generac Holdings makes up approx 0.53% of Gagnon Securities’s portfolio.

Generac Holdings opened for trading at $36.93 and hit $37.35 on the upside on Tuesday, eventually ending the session at $37.13, with a gain of 1.03% or 0.38 points. The heightened volatility saw the trading volume jump to 6,26,940 shares. Company has a market cap of $2,446 M.

On the company’s financial health, Generac Holdings reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.60. The company had revenue of $367.40 million for the quarter, compared to analysts expectations of $355.02 million. The company’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Generac Holdings. Generac Holdings was Downgraded by BofA/Merrill to ” Neutral” on Aug 1, 2016.

Generac Holdings Inc. 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. Its other engine powered products that it 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 power washers for residential and commercial use. It designs manufactures sources and modifies engines alternators transfer switches and other components necessary for its products. It also sells direct to certain national and regional account customers including telecommunication retail banking convenience stores grocery stores and other light commercial applications. Its products include residential products commercial and industrial (C&I) products and other products.

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