Park Presidio Capital LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 540,077 shares of the technology company’s stock, valued at approximately $158,140,000. Generac accounts for approximately 9.0% of Park Presidio Capital LLC’s portfolio, making the stock its 5th largest holding.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Callan Family Office LLC purchased a new position in shares of Generac in the second quarter worth $3,033,000. Hsbc Holdings PLC grew its stake in Generac by 42.8% during the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after acquiring an additional 27,893 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Generac in the 1st quarter valued at $3,797,000. Needham Investment Management LLC increased its holdings in Generac by 213.6% in the 4th quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 23,500 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Generac in the 4th quarter worth $699,000. Institutional investors own 84.04% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Needham & Company LLC boosted their target price on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $284.84.
Generac Stock Down 1.1%
Shares of NYSE GNRC opened at $203.66 on Tuesday. 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 12-month low of $134.80 and a 12-month high of $296.44. The firm’s 50-day moving average price is $232.30 and its 200-day moving average price is $229.95. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 1.75 and a beta of 1.92.
Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $1.65 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.
Insider Activity
In related news, insider Norman P. Taffe sold 550 shares of the firm’s 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 completion of the sale, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. The trade was a 5.17% 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. In the last 90 days, insiders have sold 12,236 shares of company stock valued at $2,871,273. 2.40% of the stock is currently owned by insiders.
Generac 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.
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