AEGON ASSET MANAGEMENT UK Plc Takes $2.21 Million Position in Generac Holdings Inc. $GNRC

Key Points

• AEGON Asset Management UK Plc opened a new position in Generac Holdings, buying 11,300 shares valued at about $2.21 million in the first quarter.
• Generac reported better-than-expected quarterly earnings, with EPS of $1.80 versus the $1.33 estimate, and revenue rose 12.5% year over year to $1.06 billion.
• Despite recent insider sales by CEO Aaron Jagdfeld and insider Norman P. Taffe, analysts remain mostly constructive on the stock, with an average rating of “Moderate Buy” and an average price target of $278.65.

AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 11,300 shares of the technology company's stock, valued at approximately $2,206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNRC. MUFG Securities EMEA plc purchased a new stake in Generac during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Generac in the third quarter valued at about $26,000. IFP Advisors Inc boosted its stake in Generac by 33.8% in the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company's stock valued at $59,000 after acquiring an additional 110 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Generac during the 4th quarter valued at approximately $61,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Generac during the 3rd quarter valued at approximately $67,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Down 0.0%

Shares of NYSE GNRC opened at $279.09 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $16.43 billion, a P/E ratio of 87.49, a P/E/G ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a 52 week low of $125.80 and a 52 week high of $294.18. The business has a 50-day simple moving average of $251.44 and a two-hundred day simple moving average of $205.86.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The company's revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 the firm's 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 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 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. 2.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GNRC shares. Stifel Nicolaus set a $275.00 price target on shares of Generac in a report on Thursday, April 30th. Stephens reissued an "overweight" rating and set a $290.00 price objective on shares of Generac in a report on Thursday, May 21st. TD Cowen raised their target price on Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Citigroup raised their target price on Generac from $226.00 to $263.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Generac in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Generac currently has an average rating of "Moderate Buy" and an average target price of $278.65.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.