AGP Franklin LLC Takes $2.16 Million Position in Generac Holdings Inc. $GNRC

Key Points

• AGP Franklin LLC initiated a new position in Generac Holdings, buying 11,080 shares valued at about $2.16 million in the first quarter.
• Generac’s latest quarterly results beat expectations, with EPS of $1.80 versus the $1.33 estimate and revenue of $1.06 billion, up 12.5% year over year.
• Analysts remain generally positive on the stock: several firms raised price targets, and MarketBeat shows an average rating of “Moderate Buy” with a consensus target price of $278.65.

AGP Franklin LLC bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 11,080 shares of the technology company's stock, valued at approximately $2,164,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hanson & Doremus Investment Management increased its holdings in shares of Generac by 10.3% during the first quarter. Hanson & Doremus Investment Management now owns 4,062 shares of the technology company's stock valued at $793,000 after acquiring an additional 379 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Generac in the 1st quarter valued at $424,000. Greenbush Financial Group LLC increased its stake in Generac by 4.0% during the 1st quarter. Greenbush Financial Group LLC now owns 8,658 shares of the technology company's stock valued at $1,691,000 after purchasing an additional 329 shares in the last quarter. FFG Partners LLC bought a new stake in Generac during the 1st quarter valued at $2,995,000. Finally, True Vision MN LLC raised its holdings in Generac by 4.2% during the first quarter. True Vision MN LLC now owns 3,708 shares of the technology company's stock worth $724,000 after buying an additional 148 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Performance

NYSE GNRC opened at $295.79 on Tuesday. Generac Holdings Inc. has a 1 year low of $126.72 and a 1 year high of $296.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 92.72, a PEG ratio of 2.61 and a beta of 1.93. The company has a fifty day moving average price of $253.22 and a 200-day moving average price of $207.25.

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

Analyst Ratings Changes

GNRC has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Generac from $305.00 to $335.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Needham & Company LLC restated a "buy" rating on shares of Generac in a report on Tuesday, June 2nd. Argus raised their price target on shares of Generac from $255.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Generac from $229.00 to $267.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Generac in a report on Wednesday, June 3rd. One 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $278.65.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares of the company's stock, valued at $4,385,564.08. This trade represents a 3.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company's stock.

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.

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