Granahan Investment Management LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) during the first quarter, HoldingsChannel reports. The institutional investor purchased 13,213 shares of the technology company’s stock, valued at approximately $2,581,000.
Several other hedge funds have also made changes to their positions in the business. MUFG Securities EMEA plc purchased a new stake in shares of Generac in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Generac in the 3rd quarter worth about $26,000. Avalon Trust Co purchased a new stake in Generac in the 1st quarter valued at about $32,000. GHP Investment Advisors Inc. acquired a new position in shares of Generac during the 1st quarter valued at about $36,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.
Generac Stock Down 4.0%
GNRC opened at $202.13 on Friday. The firm has a 50 day moving average price of $256.28 and a 200 day moving average price of $222.70. The company has a market cap of $11.90 billion, a PE ratio of 63.36, a price-to-earnings-growth ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.
Insiders Place Their Bets
In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares in the company, valued at approximately $4,046,848. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,100 shares of company stock worth $1,651,443. Insiders own 2.40% of the company’s stock.
Analysts Set New Price Targets
GNRC has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays upped their price target on shares of Generac from $228.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Raymond James Financial set a $302.00 price target on shares of Generac in a research note on Friday, May 22nd. Stifel Nicolaus set a $275.00 price target on shares of Generac in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.44.
Read Our Latest Report on Generac
Generac Company Profile
Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.
Generac’s product lineup addresses a broad range of customer needs.
See Also
- Five stocks we like better than Generac
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC – Free Report).
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.
