Banque Cantonale Vaudoise Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Banque Cantonale Vaudoise recently purchased 2,471 shares of Generac Holdings Inc. during the first quarter, valued at approximately $313,000.
• Several institutional investors, including Forest Avenue Capital Management and Raymond James Financial, have significantly increased their stakes in Generac, with hedge funds currently owning 84.04% of the stock.
• Analysts are mixed on Generac, with some upgrading their price targets, and overall consensus ratings leaning toward a "Moderate Buy" with an average target price of $174.28.

Banque Cantonale Vaudoise bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,471 shares of the technology company's stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in Generac by 51.0% in the 1st quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company's stock valued at $58,048,000 after acquiring an additional 154,867 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Generac by 35.1% during the 1st quarter. Mackenzie Financial Corp now owns 558,770 shares of the technology company's stock valued at $70,768,000 after acquiring an additional 145,103 shares during the period. Empirical Finance LLC grew its holdings in shares of Generac by 8.8% in the first quarter. Empirical Finance LLC now owns 1,833 shares of the technology company's stock worth $232,000 after purchasing an additional 148 shares during the last quarter. Nvwm LLC grew its stake in Generac by 3.0% in the 1st quarter. Nvwm LLC now owns 3,451 shares of the technology company's stock worth $437,000 after acquiring an additional 99 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Generac during the 1st quarter worth $1,150,000. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GNRC. Piper Sandler cut their target price on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. TD Cowen raised their price target on Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a report on Thursday. Canaccord Genuity Group dropped their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Generac from $141.00 to $144.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Roth Capital lifted their price objective on Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.28.

Generac Price Performance

NYSE:GNRC traded down $1.12 during trading hours on Friday, hitting $193.57. 2,059,026 shares of the stock were exchanged, compared to its average volume of 1,263,561. The firm's fifty day moving average price is $142.00 and its 200 day moving average price is $134.31. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $197.18. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a market cap of $11.44 billion, a P/E ratio of 32.15, a P/E/G ratio of 1.56 and a beta of 1.68.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.35 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

About Generac

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.