Blair William & Co. IL Trims Stake in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Blair William & Co. IL reduced its stake in Generac Holdings by 6.6%, holding 479,565 shares valued at approximately $60.7 million after selling 33,884 shares in the first quarter.
• Several institutional investors, including DAVENPORT & Co LLC and Federated Hermes Inc., increased their positions in Generac, indicating continued interest among large investors.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Generac, with target prices ranging from $140 to $220, reflecting optimism regarding the company's future growth.

Blair William & Co. IL lessened its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 479,565 shares of the technology company's stock after selling 33,884 shares during the quarter. Blair William & Co. IL owned 0.80% of Generac worth $60,737,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GNRC. Forest Avenue Capital Management LP purchased a new stake in Generac in the fourth quarter worth $49,313,000. Raymond James Financial Inc. purchased a new position in Generac in the 4th quarter worth about $46,785,000. DAVENPORT & Co LLC increased its stake in Generac by 77.3% in the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock worth $60,077,000 after buying an additional 206,311 shares during the period. Clean Energy Transition LLP bought a new stake in Generac during the 4th quarter valued at about $31,433,000. Finally, Federated Hermes Inc. boosted its position 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 buying an additional 154,867 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Roth Capital raised their target price on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Stephens restated an "overweight" rating and set a $175.00 price objective on shares of Generac in a report on Tuesday, May 27th. Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Janney Montgomery Scott raised Generac from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, UBS Group raised their price target on Generac from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and a consensus price target of $174.28.

Generac Trading Down 0.6%

NYSE:GNRC opened at $193.57 on Monday. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.56 and a beta of 1.68. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $197.18. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $142.00 and a 200 day moving average of $134.31.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The business's quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate 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.

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