Courier Capital LLC lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 170.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,804 shares of the technology company’s stock after buying an additional 6,807 shares during the quarter. Courier Capital LLC’s holdings in Generac were worth $2,236,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in GNRC. BlackRock Inc. bought a new stake in shares of Generac during the 2nd quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership grew its stake in Generac by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock worth $202,849,000 after purchasing an additional 86,863 shares during the period. Bank of America Corp DE bought a new stake in Generac in the second quarter worth approximately $175,942,000. Park Presidio Capital LLC bought a new stake in Generac in the second quarter worth approximately $158,140,000. Finally, Amundi lifted its stake in Generac by 5.0% in the second quarter. Amundi now owns 454,516 shares of the technology company’s stock valued at $133,087,000 after buying an additional 21,500 shares during the period. 84.04% of the stock is owned by institutional investors.
Insider Transactions at Generac
In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company’s stock, valued at approximately $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Generac 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 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 have sold 18,442 shares of company stock worth $3,656,537 in the last 90 days. Insiders own 2.40% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on Generac
Generac Stock Down 1.8%
NYSE GNRC traded down $3.96 during trading hours on Tuesday, hitting $214.41. The company’s stock had a trading volume of 1,002,162 shares, compared to its average volume of 1,089,444. The company has a market capitalization of $12.65 billion, a PE ratio of 49.40, a price-to-earnings-growth ratio of 1.92 and a beta of 1.91. 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 52 week low of $134.80 and a 52 week high of $296.44. The company’s 50-day simple moving average is $203.64 and its two-hundred day simple moving average is $226.97.
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%. Generac’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 9.74 EPS for the current fiscal year.
About Generac
Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.
The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.
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