Amundi Increases Stock Holdings in Generac Holdings Inc. $GNRC

Key Points

• Amundi increased its Generac stake by 5% in the second quarter, buying 21,500 additional shares and bringing its holdings to 454,516 shares worth approximately $133.1 million. Institutional investors collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, beating the $2.01 analyst consensus, while revenue rose 10.3% year over year to $1.17 billion. The stock opened at $190.28, below its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $284.84. Meanwhile, insiders sold 11,686 shares worth approximately $2.27 million over the past 90 days.

Amundi grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 454,516 shares of the technology company's stock after purchasing an additional 21,500 shares during the quarter. Amundi owned approximately 0.77% of Generac worth $133,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in Generac during the second quarter valued at approximately $25,000. MUFG Securities EMEA plc purchased a new stake in Generac in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Generac during the 3rd quarter worth approximately $26,000. Avalon Trust Co bought a new stake in Generac during the 1st quarter worth approximately $32,000. Finally, Essential Partners LLC boosted its position in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after purchasing an additional 61 shares during the period. Institutional investors own 84.04% of the company's stock.

Generac Stock Up 1.6%

NYSE GNRC opened at $190.28 on Wednesday. The stock has a 50 day moving average price of $212.14 and a 200-day moving average price of $228.87. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The company has a market capitalization of $11.23 billion, a P/E ratio of 43.84, a P/E/G ratio of 1.60 and a beta of 1.91.

Generac (NYSE:GNRC - Get Free Report) last released 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. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Generac's revenue was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Roth Capital set a $214.00 target price on shares of Generac in a report on Thursday, July 30th. Cantor Fitzgerald boosted 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. Robert W. Baird set a $305.00 price objective on Generac in a research note on Thursday, July 30th. Raymond James Financial set a $302.00 target price on Generac in a research report on Friday, May 22nd. Finally, Stifel Nicolaus boosted their price target on Generac from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $284.84.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $182.21, for a total value of $911,050.00. Following the completion of the transaction, the chief executive officer owned 549,528 shares in the company, valued at approximately $100,129,496.88. The trade was a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,686 shares of company stock valued at $2,271,680 in the last ninety days. Insiders own 2.40% of the company's stock.

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.

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