D.A. Davidson & CO. Buys 7,339 Shares of Generac Holdings Inc. $GNRC

Key Points

• D.A. Davidson increased its Generac stake by 143.4% in the third quarter, purchasing 7,339 additional shares and bringing its holdings to 12,458 shares worth approximately $2.58 million. Institutional investors collectively own 84.04% of GNRC.
• Generac reported quarterly EPS of $2.54, beating estimates of $2.40, while revenue rose 16.2% year over year to $1.29 billion but came in below expectations.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a $290.41 price target, although insiders sold 13,442 shares worth $2.68 million during the quarter.

D.A. Davidson & CO. grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 143.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,458 shares of the technology company's stock after buying an additional 7,339 shares during the quarter. D.A. Davidson & CO.'s holdings in Generac were worth $2,578,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Generac during the second quarter valued at about $25,000. Avalon Trust Co bought a new stake in shares of Generac during the first quarter worth about $32,000. Essential Partners LLC grew its holdings in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 54 shares during the period. Finally, Fiduciary Financial Advisors acquired a new position in shares of Generac in the second quarter valued at approximately $50,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other Generac news, insider Kyle Raabe sold 603 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider directly owned 9,966 shares in the company, valued at approximately $2,118,472.62. This trade represents a 5.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 dated Thursday, October 1st. The stock was sold at an average price of $206.00, for a total value of $1,030,000.00. Following the completion of the transaction, the chief executive officer directly owned 544,528 shares of the company's stock, valued at approximately $112,172,768. This trade represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 13,442 shares of company stock valued at $2,682,087. 2.40% of the stock is currently owned by insiders.

Generac Stock Up 1.8%

Shares of NYSE GNRC opened at $201.57 on Tuesday. The company has a market capitalization of $11.89 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.91. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.97. The company's 50 day moving average price is $199.08 and its 200-day moving average price is $217.71.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.14. Generac had a net margin of 6.52% and a return on equity of 18.78%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $1.83 EPS. The company's quarterly revenue was up 16.2% on a year-over-year basis. Equities analysts forecast that Generac Holdings Inc. will post 9.80 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on GNRC shares. HSBC downgraded shares of Generac to a "hold" rating and set a $333.00 target price on the stock. in a research report on Thursday, September 17th. Wall Street Zen raised shares of Generac from a "buy" rating to a "strong-buy" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Generac from $261.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, September 18th. KeyCorp reissued an "overweight" rating on shares of Generac in a research note on Monday, October 26th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Generac in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average price target of $290.41.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.

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