Concurrent Investment Advisors LLC Purchases 12,113 Shares of Generac Holdings Inc. $GNRC

Key Points

• Concurrent Investment Advisors increased its Generac position by 157% in the second quarter, adding 12,113 shares to own 19,826 shares valued at approximately $5.8 million. Institutional investors collectively own 84.04% of GNRC.
• Generac exceeded quarterly earnings expectations, reporting $2.91 EPS versus the $2.01 consensus, while revenue rose 10.3% year over year to $1.17 billion, slightly below estimates.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $284.84. However, insiders have sold 11,686 shares worth about $2.27 million over the past 90 days.

Concurrent Investment Advisors LLC grew its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 157.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,826 shares of the technology company's stock after purchasing an additional 12,113 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Generac were worth $5,805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GNRC. BlackRock Inc. acquired a new position in shares of Generac during the second quarter worth $1,170,960,000. Invesco Ltd. grew its stake in shares of Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock worth $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. increased its holdings in Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock valued at $130,104,000 after purchasing an additional 662,665 shares during the period. Bank of Montreal Can increased its holdings in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock valued at $94,859,000 after purchasing an additional 639,551 shares during the period. Finally, Bank of America Corp DE bought a new position in Generac during the 2nd quarter worth $175,942,000. 84.04% of the stock is currently owned by institutional investors.

Insider Activity at Generac

In other news, insider Kyle Raabe sold 586 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares of the company's stock, valued at $2,292,659.10. This trade represents a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $182.21, for a total transaction of $911,050.00. Following the completion of the sale, the chief executive officer owned 549,528 shares of the company's stock, valued at $100,129,496.88. This represents a 0.90% 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. Insiders have sold a total of 11,686 shares of company stock worth $2,271,680 in the last 90 days. Corporate insiders own 2.40% of the company's stock.

Generac Stock Performance

Shares of GNRC opened at $187.44 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $11.06 billion, a P/E ratio of 43.19, a price-to-earnings-growth ratio of 1.60 and a beta of 1.91. The firm's fifty day simple moving average is $216.10 and its two-hundred day simple moving average is $229.46. 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 issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.65 EPS. The business's revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on GNRC shares. Canaccord Genuity Group cut their target price on Generac from $325.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Citigroup increased their price target on Generac from $263.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Cantor Fitzgerald raised their price objective on Generac from $325.00 to $333.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC upped their target price on Generac from $282.00 to $283.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $284.84.

Generac 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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