Equitable Holdings Inc. Purchases New Holdings in Generac Holdings Inc. $GNRC

Equitable Holdings Inc. acquired a new position in Generac Holdings Inc. (NYSE:GNRCFree Report) during the second quarter, HoldingsChannel reports. The institutional investor acquired 14,371 shares of the technology company’s stock, valued at approximately $4,208,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GNRC. MUFG Securities EMEA plc bought a new stake in shares of Generac in the 2nd quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac in the third quarter worth $26,000. Avalon Trust Co bought a new position in shares of Generac during the first quarter valued at $32,000. Finally, Essential Partners LLC increased its holdings in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Activity

In other 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $125,023.10. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock valued at $2,871,273 in the last ninety days. 2.40% of the stock is currently owned by company insiders.

Generac Stock Performance

Shares of NYSE GNRC opened at $198.52 on Friday. The firm’s 50-day moving average price is $228.20 and its 200-day moving average price is $230.48. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a market cap of $11.71 billion, a PE ratio of 45.74, a PEG ratio of 1.76 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRCGet Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Stephens reiterated an “overweight” rating and issued a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Barclays cut their price target on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average price target of $284.84.

Read Our Latest Stock Report on GNRC

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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