Beacon Pointe Advisors LLC Invests $6.11 Million in Generac Holdings Inc. $GNRC

Key Points

• Beacon Pointe Advisors initiated a $6.11 million position in Generac, purchasing 20,880 shares during the second quarter. Institutional investors collectively own 84.04% of the company.
• Generac’s latest quarterly earnings exceeded expectations, with EPS of $2.91 versus the $2.01 consensus estimate. Revenue rose 10.3% year over year to $1.17 billion, slightly below analyst forecasts.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $284.84, while company insiders have sold 12,236 shares worth $2.87 million over the past three months.

Beacon Pointe Advisors LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 20,880 shares of the technology company's stock, valued at approximately $6,114,000.

A number of other large investors also recently modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new position in shares of Generac in the second quarter valued at $25,000. MUFG Securities EMEA plc acquired a new position in Generac during the 2nd quarter valued at about $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 position in shares of Generac in the first quarter valued at approximately $32,000. Finally, Essential Partners LLC boosted its position in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock valued at $33,000 after buying an additional 61 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company's stock, valued at $3,393,615.64. The trade was a 3.43% 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. In the last three months, insiders have sold 12,236 shares of company stock worth $2,871,273. 2.40% of the stock is currently owned by insiders.

Generac Stock Performance

NYSE:GNRC opened at $184.02 on Friday. The stock has a market cap of $10.86 billion, a P/E ratio of 42.40, a PEG ratio of 1.57 and a beta of 1.92. 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 business's 50-day moving average price is $226.30 and its two-hundred day moving average price is $230.15. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a report on Wednesday, June 3rd. Wall Street Zen raised Generac from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. TD Cowen reissued a "buy" rating on shares of Generac in a report on Monday, July 20th. Canaccord Genuity Group decreased their price objective on shares of Generac from $325.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $284.84.

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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