AQR Capital Management LLC Purchases 24,716 Shares of Generac Holdings Inc. $GNRC

Key Points

• AQR Capital Management LLC increased its holdings in Generac Holdings Inc. by 51.3%, acquiring an additional 24,716 shares, bringing its total ownership to 72,853 shares valued at approximately $9.08 million.
• Several analysts have recently upgraded their ratings and target prices for Generac, including Wells Fargo raising its price target from $128 to $180 and TD Cowen increasing it from $155 to $198.
• In insider news, CEO Aaron Jagdfeld sold 5,000 shares at an average price of $181.21, reducing his ownership by 0.9% but still retaining 552,966 shares valued at over $100 million.

AQR Capital Management LLC lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 51.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,853 shares of the technology company's stock after buying an additional 24,716 shares during the quarter. AQR Capital Management LLC owned approximately 0.12% of Generac worth $9,078,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Generac during the first quarter valued at about $28,000. Private Trust Co. NA grew its position in shares of Generac by 42.9% during the first quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares in the last quarter. Colonial Trust Advisors grew its position in shares of Generac by 357.1% during the first quarter. Colonial Trust Advisors now owns 320 shares of the technology company's stock worth $41,000 after purchasing an additional 250 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Generac during the first quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Generac by 1,525.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock worth $74,000 after purchasing an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GNRC shares. Wells Fargo & Company increased their target price on Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen cut Generac from a "buy" rating to a "hold" rating in a research report on Monday, September 1st. JPMorgan Chase & Co. upgraded Generac from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $56.00 to $68.00 in a research report on Monday, August 11th. TD Cowen increased their target price on Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Citigroup reiterated a "neutral" rating and set a $219.00 target price (up previously from $138.00) on shares of Generac in a research report on Tuesday, August 26th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $174.56.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the completion of the sale, the chief executive officer directly owned 552,966 shares of the company's stock, valued at $100,202,968.86. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by insiders.

Generac Price Performance

Shares of Generac stock opened at $184.92 on Thursday. The stock has a 50 day moving average of $175.59 and a 200 day moving average of $142.58. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25. The firm has a market cap of $10.85 billion, a PE ratio of 30.72, a PEG ratio of 1.46 and a beta of 1.63. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The firm's revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. On average, research analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company Profile

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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