Assenagon Asset Management S.A. Purchases 6,318 Shares of Generac Holdings Inc. $GNRC

Key Points

• Assenagon Asset Management increased its Generac stake by 20.7% in the third quarter, purchasing 6,318 shares and bringing its holdings to 36,833 shares valued at approximately $7.6 million. Institutional investors collectively own 84.04% of GNRC.
• Generac reported quarterly EPS of $2.91, exceeding the $2.01 analyst consensus, while revenue rose 10.3% year over year to $1.17 billion, slightly below estimates.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $290.55, although insiders have sold 18,442 shares worth roughly $3.66 million over the past 90 days.

Assenagon Asset Management S.A. lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,833 shares of the technology company's stock after buying an additional 6,318 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Generac worth $7,623,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. boosted its holdings in Generac by 6.6% in the third quarter. Retirement Planning Co of New England Inc. now owns 3,205 shares of the technology company's stock worth $663,000 after purchasing an additional 199 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in Generac by 28.1% during the third quarter. ZWJ Investment Counsel Inc. now owns 27,435 shares of the technology company's stock worth $5,678,000 after buying an additional 6,010 shares during the last quarter. Mather Group LLC. increased its position in Generac by 25.5% during the third quarter. Mather Group LLC. now owns 2,173 shares of the technology company's stock worth $450,000 after buying an additional 442 shares during the last quarter. Ulland Investment Advisors LLC raised its holdings in Generac by 19.6% during the third quarter. Ulland Investment Advisors LLC now owns 3,140 shares of the technology company's stock valued at $650,000 after buying an additional 515 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Generac by 8.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,196 shares of the technology company's stock valued at $248,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Performance

GNRC opened at $194.44 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average price is $201.81 and its two-hundred day moving average price is $227.08. The firm has a market capitalization of $11.47 billion, a P/E ratio of 44.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.91. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 EPS. On average, equities analysts forecast that Generac Holdings Inc. will post 9.74 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at $112,172,768. The trade was a 0.91% decrease in their ownership of the stock. 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 Raabe sold 603 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the transaction, the insider owned 9,966 shares in the company, valued at $2,118,472.62. This represents a 5.71% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 18,442 shares of company stock worth $3,656,537. Company insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GNRC. Robert W. Baird set a $305.00 price target on Generac in a research report on Thursday, July 30th. Raymond James Financial set a $286.00 target price on Generac in a report on Thursday, September 17th. DA Davidson set a $333.00 target price on Generac in a research report on Thursday, July 30th. Stifel Nicolaus upped their target price on Generac from $285.00 to $290.00 and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Finally, HSBC downgraded Generac to a "hold" rating and set a $333.00 price target on the stock. in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $290.55.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.

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