Should You Sell Generac Holdings (GNRC) Now?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the mid-cap stocks posted solid gains. On the other hand, its full-year returns were disappointing. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisors highlighted stocks like Generac Holdings Inc. (NYSE:GNRC) in the Q4 2022 investor letter. Headquartered in Waukesha, Wisconsin, Generac Holdings Inc. (NYSE:GNRC) is a power generation equipment, energy storage systems, and other power product manufacturer and supplier. On January 16, 2023, Generac Holdings Inc. (NYSE:GNRC) stock closed at $113.66 per share. One-month return of Generac Holdings Inc. (NYSE:GNRC) was 20.05%, and its shares lost 62.89% of their value over the last 52 weeks. Generac Holdings Inc. (NYSE:GNRC) has a market capitalization of $7.201 billion.

Carillon Tower Advisors made the following comment about Generac Holdings Inc. (NYSE:GNRC) in its Q4 2022 investor letter:

Generac Holdings Inc. (NYSE:GNRC) is an energy technology company providing backup and prime power generation systems, as well as clean energy solutions. The stock underperformed after the company pre-announced underwhelming third-quarter results that highlighted a sharp rise in channel partner inventories. Fears that the company has increased production capacity while installation bottlenecks continue to persist and consumer demand for its residential power generation products could be decelerating, plus a bankruptcy filing from one of its notable clean energy customers, also weighed on the shares. We have sold the stock.”

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Generac Holdings Inc. (NYSE:GNRC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Generac Holdings Inc. (NYSE:GNRC) at the end of the third quarter which was 34 in the previous quarter.

We discussed Generac Holdings Inc. (NYSE:GNRC) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.