Altman Advisors Inc. bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 11,174 shares of the technology company's stock, valued at approximately $3,272,000. Generac makes up about 1.2% of Altman Advisors Inc.'s portfolio, making the stock its 23rd biggest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Generac by 6.2% during the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock worth $309,000 after buying an additional 142 shares in the last quarter. Woodline Partners LP lifted its holdings in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after purchasing an additional 1,463 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock worth $14,507,000 after purchasing an additional 21,908 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Generac by 1.6% during the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock worth $7,239,000 after buying an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after buying an additional 8,213 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.
Generac Price Performance
Shares of Generac stock opened at $206.88 on Friday. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The stock has a market capitalization of $12.21 billion, a P/E ratio of 47.67, a PEG ratio of 1.80 and a beta of 1.92. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The business's fifty day moving average price is $234.74 and its 200 day moving average price is $229.49.
Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The firm 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%.The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, research analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.
Insider Buying and Selling at Generac
In other news, 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 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. This trade represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider owned 10,746 shares in the company, valued at $2,292,659.10. The trade was a 5.17% decrease in their position. 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 a total of 12,236 shares of company stock valued at $2,871,273 over the last ninety days. Corporate insiders own 2.40% of the company's stock.
Analyst Upgrades and Downgrades
GNRC has been the topic of a number of recent analyst reports. Citigroup increased their price target on Generac from $263.00 to $300.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Cantor Fitzgerald lifted their price objective on Generac from $325.00 to $333.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. DA Davidson set a $333.00 target price on Generac in a research report on Thursday, July 30th. TD Cowen reissued a "buy" rating on shares of Generac in a research note on Monday, July 20th. Finally, Roth Capital set a $214.00 price target on Generac in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $284.84.
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About Generac
(
Free Report)
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.
Further Reading
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).
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