Benjamin Edwards Inc. Has $1.90 Million Position in Generac Holdings Inc. $GNRC

Key Points

• Benjamin Edwards Inc. boosted its stake in Generac by 55.2%, owning 13,898 shares worth about $1.90 million after adding 4,943 shares in Q4.
• Generac beat quarterly estimates with $1.80 EPS versus $1.33 and $1.06B revenue (up 12.5% YoY); analysts’ consensus is a “Moderate Buy” with a $270.31 price target and the stock trading near its 52‑week high.
• Institutional ownership is high at 84.04%, but insiders own just 2.70% and CFO York Ragen sold 24,362 shares (a 15.08% reduction) in February.

Benjamin Edwards Inc. grew its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,898 shares of the technology company's stock after purchasing an additional 4,943 shares during the period. Benjamin Edwards Inc.'s holdings in Generac were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC boosted its position in Generac by 4.4% during the 4th quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company's stock worth $53,190,000 after buying an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Generac during the 3rd quarter worth approximately $70,744,000. Strs Ohio boosted its position in Generac by 583.4% during the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company's stock worth $9,725,000 after buying an additional 49,595 shares during the period. Envestnet Asset Management Inc. boosted its position in Generac by 2.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company's stock worth $100,031,000 after buying an additional 15,280 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Generac by 30.5% during the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company's stock worth $14,501,000 after buying an additional 20,270 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GNRC shares. Zacks Research upgraded shares of Generac from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 19th. Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Generac in a research report on Thursday, January 22nd. Roth Mkm reiterated a "neutral" rating and set a $257.00 target price on shares of Generac in a research report on Thursday, April 30th. Finally, Guggenheim reiterated a "neutral" rating and set a $202.00 target price on shares of Generac in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $270.31.

Generac Stock Performance

NYSE:GNRC opened at $267.65 on Thursday. The company has a fifty day moving average of $213.02 and a 200-day moving average of $182.77. The firm has a market capitalization of $15.74 billion, a P/E ratio of 83.90, a P/E/G ratio of 2.50 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a twelve month low of $113.96 and a twelve month high of $269.26.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8.79 EPS for the current year.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

About Generac

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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