Ancora Advisors LLC Acquires Shares of 5,592 Generac Holdings Inc. $GNRC

Key Points

• Ancora Advisors initiated a Generac position by purchasing 5,592 shares valued at approximately $1.64 million. Institutional investors collectively own 84.04% of the company, with several other major funds also adding new stakes.
• Analysts maintain a generally positive outlook, with Generac carrying a “Moderate Buy” consensus rating and an average price target of $284.84.
• Generac’s latest quarterly results exceeded expectations, reporting EPS of $2.91 versus the $2.01 consensus estimate, while revenue increased 10.3% year over year to $1.17 billion.

Ancora Advisors LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,592 shares of the technology company's stock, valued at approximately $1,637,000.

Several other large investors also recently modified their holdings of the business. Redwood Grove Capital LLC purchased a new position in shares of Generac during the second quarter valued at approximately $12,380,000. Palisade Capital Management LP bought a new stake in Generac in the second quarter valued at $213,000. Canada Pension Plan Investment Board bought a new stake in Generac in the second quarter valued at $10,922,000. Legal & General Group Plc purchased a new position in Generac during the 2nd quarter valued at $56,024,000. Finally, The Manufacturers Life Insurance Company bought a new position in Generac in the 2nd quarter worth $68,201,000. 84.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Citigroup increased their price target on shares of Generac from $263.00 to $300.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. TD Cowen restated a "buy" rating on shares of Generac in a report on Monday, July 20th. Weiss Ratings raised Generac from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $284.84.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $125,023.10. Following the transaction, the insider owned 10,746 shares of the company's stock, valued at $2,292,659.10. The trade was a 5.17% 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. Insiders sold a total of 12,236 shares of company stock valued at $2,871,273 in the last 90 days. Corporate insiders own 2.40% of the company's stock.

Generac Trading Down 3.9%

NYSE:GNRC opened at $198.52 on Friday. The firm has a market capitalization of $11.71 billion, a P/E ratio of 45.74, a PEG ratio of 1.76 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The company's 50-day simple moving average is $228.20 and its 200 day simple moving average is $230.48.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Generac 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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