Altman Advisors Inc. Has $731,000 Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Altman Advisors Inc. cut its Generac stake by 50.4% in the fourth quarter, leaving it with 5,357 shares worth about $731,000.
• Institutional ownership remains high, with several other funds increasing their positions and hedge funds and institutions owning 84.04% of Generac shares overall.
• Generac reported strong quarterly results, beating EPS and revenue estimates, while analysts remain broadly positive with a Moderate Buy consensus and a price target of $270.31.

Altman Advisors Inc. cut its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 50.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,357 shares of the technology company's stock after selling 5,436 shares during the quarter. Altman Advisors Inc.'s holdings in Generac were worth $731,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GNRC. NewEdge Advisors LLC lifted its stake in Generac by 6.2% in 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 period. Woodline Partners LP lifted its stake in Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after buying an additional 1,463 shares during the period. First Trust Advisors LP lifted its stake in Generac by 27.6% in the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock valued at $14,507,000 after buying an additional 21,908 shares during the period. Cerity Partners LLC lifted its stake in Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock valued at $7,239,000 after buying an additional 816 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Generac by 8.6% in the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock valued at $14,929,000 after buying an additional 8,213 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the company's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on GNRC. Wall Street Zen raised Generac from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Argus upped their target price on Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Barclays upped their target price on Generac from $213.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, March 27th. Canaccord Genuity Group upped their target price on Generac from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group began coverage on Generac in a research report on Friday, March 20th. They set a "hold" rating and a $222.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $270.31.

Generac Price Performance

Shares of NYSE:GNRC opened at $268.88 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. Generac Holdings Inc. has a twelve month low of $118.09 and a twelve month high of $272.40. The stock's 50 day moving average is $213.65 and its 200-day moving average is $183.31. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 84.29, a PEG ratio of 2.52 and a beta of 1.93.

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

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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