10,039 Shares in Generac Holdings Inc. $GNRC Purchased by Hendley & Co. Inc.

Key Points

• Hendley & Co. Inc. opened a new position in Generac during the first quarter, buying 10,039 shares valued at about $1.96 million.
• Institutional ownership remains heavy, with 84.04% of Generac shares held by hedge funds and other institutional investors. Several other large investors also increased their stakes recently.
• Generac’s recent earnings beat expectations, reporting $1.80 EPS versus the $1.33 consensus and revenue of $1.06 billion. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $278.65.

Hendley & Co. Inc. bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,039 shares of the technology company's stock, valued at approximately $1,961,000.

A number of other large investors also recently added to or reduced their stakes in GNRC. NewEdge Advisors LLC raised its position in shares of Generac by 6.2% during the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock valued at $309,000 after buying an additional 142 shares during the last quarter. Woodline Partners LP boosted its position in shares of Generac by 40.9% during the first 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 during the last quarter. First Trust Advisors LP grew its stake in Generac by 27.6% during the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock valued at $14,507,000 after acquiring an additional 21,908 shares in the last quarter. Cerity Partners LLC grew its stake in Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock valued at $7,239,000 after acquiring an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Generac by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock valued at $14,929,000 after acquiring an additional 8,213 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated 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 directly owned 564,528 shares of the company's stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the transaction, the insider owned 16,108 shares in the company, valued at $4,385,564.08. The trade was 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. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research cut shares of Generac from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 4th. TD Cowen raised their price objective on Generac from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Argus lifted their target price on Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. UBS Group boosted their target price on Generac from $305.00 to $335.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Finally, Barclays increased their price target on Generac from $213.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Generac presently has a consensus rating of "Moderate Buy" and a consensus target price of $278.65.

Generac Stock Performance

NYSE GNRC opened at $295.79 on Tuesday. The company has a market cap of $17.41 billion, a P/E ratio of 92.72, a P/E/G ratio of 2.61 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The business's 50 day moving average price is $253.22 and its 200-day moving average price is $207.25. Generac Holdings Inc. has a fifty-two week low of $126.72 and a fifty-two week high of $296.03.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac's revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Sell-side analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

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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