Ranger Investment Management L.P. Buys New Stake in Generac Holdings Inc. $GNRC

Ranger Investment Management L.P. purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRCFree Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 49,005 shares of the technology company’s stock, valued at approximately $14,349,000. Ranger Investment Management L.P. owned 0.08% of Generac as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new stake in shares of Generac during the second quarter valued at about $25,000. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Generac during the 3rd quarter valued at about $26,000. Avalon Trust Co acquired a new position in Generac during the 1st quarter valued at about $32,000. Finally, Essential Partners LLC raised its position in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GNRC shares. Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Stifel Nicolaus boosted their target price on Generac from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Argus increased their price target on Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Check Out Our Latest Analysis on GNRC

Generac Stock Performance

NYSE:GNRC opened at $206.51 on Monday. The company has a 50-day moving average of $233.63 and a 200-day moving average of $229.74. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 47.58, a price-to-earnings-growth ratio of 1.75 and a beta of 1.92. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.

Generac (NYSE:GNRCGet Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Generac

In related news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer directly owned 554,528 shares in the company, valued at $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,236 shares of company stock valued at $2,871,273 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Generac Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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