Invenomic Capital Management LP increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 72.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,854 shares of the technology company’s stock after acquiring an additional 20,091 shares during the quarter. Invenomic Capital Management LP owned about 0.08% of Generac worth $6,526,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. NewEdge Advisors LLC raised its stake in Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after acquiring an additional 142 shares in the last quarter. Woodline Partners LP raised its stake in Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after acquiring an additional 1,463 shares in the last quarter. First Trust Advisors LP raised its stake in Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after acquiring an additional 21,908 shares in the last quarter. Cerity Partners LLC raised its stake in Generac by 1.6% during the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after acquiring an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Generac by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after acquiring an additional 8,213 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Generac news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% 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 own 2.40% of the company’s stock.
Generac Trading Up 0.8%
Generac (NYSE:GNRC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GNRC has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Canaccord Genuity Group lifted their price target on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Needham & Company LLC reiterated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. Finally, Barclays lifted their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Generac currently has an average rating of “Moderate Buy” and an average target price of $278.65.
Get Our Latest Stock 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.
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