James Investment Research Inc. increased its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 27.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,602 shares of the technology company’s stock after acquiring an additional 2,527 shares during the period. James Investment Research Inc.’s holdings in Generac were worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in GNRC. MUFG Securities EMEA plc acquired a new position in Generac during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac in the 3rd quarter valued at $26,000. GHP Investment Advisors Inc. bought a new position in shares of Generac in the 1st quarter valued at $36,000. IFP Advisors Inc raised its holdings in shares of Generac by 33.8% during the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock worth $59,000 after buying an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Generac during the 4th quarter worth $61,000. 84.04% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on GNRC. Bank of America decreased their target price on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Stifel Nicolaus set a $275.00 target price on shares of Generac in a report on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Argus upped their price objective on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Roth Mkm reissued a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and a consensus target price of $282.00.
Generac Stock Performance
NYSE:GNRC opened at $270.17 on Thursday. The stock’s 50-day moving average is $263.52 and its 200-day moving average is $213.13. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.90 billion, a P/E ratio of 84.69, a price-to-earnings-growth ratio of 2.74 and a beta of 1.89.
Generac (NYSE:GNRC – Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.
Insider Activity
In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.
About Generac
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.
Recommended Stories
- Five stocks we like better than Generac
- AirJoule Unveils Prime System, Clearing Path to Commercialization
- Copper Stocks Are Getting a Bigger Spotlight as Gold’s Rally Cracks
- Nike Q4 Beat Masks Core Weakness as Analysts Cut Price Targets
- Uber’s Waymo Detour Tests the Stock’s Robotaxi Bull Case
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.
