Algert Global LLC Acquires 5,417 Shares of Generac Holdings Inc. $GNRC

Key Points

• Algert Global LLC increased its stake in Generac Holdings Inc. by 12.7% during the first quarter, acquiring an additional 5,417 shares to reach a total of 48,227 shares, valued at approximately $6.1 million.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac stock for $712,000, resulting in a slight decrease in his ownership to 562,966 shares, valued at around $80.2 million.
• Generac reported better-than-expected earnings of $1.65 per share for the last quarter, surpassing the estimate of $1.33, with a revenue increase of 6.3% year-over-year, totaling $1.06 billion.

Algert Global LLC boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 12.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,227 shares of the technology company's stock after acquiring an additional 5,417 shares during the period. Algert Global LLC owned 0.08% of Generac worth $6,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest & Ethical Investments L.P. raised its holdings in shares of Generac by 212.5% in the first quarter. Northwest & Ethical Investments L.P. now owns 3,750 shares of the technology company's stock worth $474,000 after buying an additional 2,550 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Generac by 8.1% during the first quarter. American Century Companies Inc. now owns 66,155 shares of the technology company's stock worth $8,379,000 after purchasing an additional 4,971 shares during the last quarter. Ethic Inc. grew its position in Generac by 7.9% during the first quarter. Ethic Inc. now owns 3,898 shares of the technology company's stock valued at $492,000 after buying an additional 284 shares during the period. Watchman Group Inc. grew its position in Generac by 3.2% during the first quarter. Watchman Group Inc. now owns 26,410 shares of the technology company's stock valued at $3,345,000 after buying an additional 811 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Generac by 18.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 859,999 shares of the technology company's stock valued at $108,914,000 after buying an additional 131,460 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the transaction, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by company insiders.

Generac Price Performance

Shares of GNRC opened at $198.50 on Monday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The firm's 50 day moving average price is $156.45 and its 200 day moving average price is $137.17. The company has a market cap of $11.65 billion, a P/E ratio of 32.97, a PEG ratio of 1.59 and a beta of 1.68. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $1.35 EPS. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GNRC shares. Canaccord Genuity Group decreased their price objective on Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Robert W. Baird decreased their price objective on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays set a $200.00 price target on shares of Generac and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, UBS Group reissued a "buy" rating and issued a $220.00 price target (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $170.06.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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