Should You Add Generac Holdings (GNRC) to Your Portfolio?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2500 Growth Index and returned 0.22% (net), and the index return was -0.12%. During the quarter, weakness in Financials, Health Care, and Industrial sectors was offset by strength in Consumer Staples, Consumer Discretionary, and Information Technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Generac Holdings Inc. (NYSE:GNRC) in its Q3 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 December 21, 2022, Generac Holdings Inc. (NYSE:GNRC) stock closed at $92.08 per share. One-month return of Generac Holdings Inc. (NYSE:GNRC) was -13.96% and its shares lost 73.79% of their value over the last 52 weeks. Generac Holdings Inc. (NYSE:GNRC) has a market capitalization of $5.834 billion.

TimesSquare Capital made the following comment about Generac Holdings Inc. (NYSE:GNRC) in its Q3 2022 investor letter:

“New to the strategy this quarter was Generac Holdings Inc. (NYSE:GNRC). We own Generac in our Mid Cap Growth strategy, and the late-quarter price pullback provided an opportunity to add a position in Small/Mid Cap Growth for this designer and manufacturer of power generator products for residential, commercial, and industrial markets.”

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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 Ariel Investment’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.