Deutsche Bank AG Acquires Shares of 133,069 Generac Holdings Inc. $GNRC

Key Points

• Deutsche Bank acquired 133,069 Generac shares during the second quarter, worth approximately $39 million and representing about 0.23% of the company. Institutional investors collectively own 84.04% of Generac.
• Generac reported quarterly earnings of $2.91 per share, beating the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Analysts maintain a generally favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $284.84. Generac shares recently opened at $206.51, while company insiders have sold 12,236 shares worth $2.87 million over the past 90 days.

Deutsche Bank AG acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 133,069 shares of the technology company's stock, valued at approximately $38,964,000. Deutsche Bank AG owned approximately 0.23% of Generac as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GNRC. N.E.W. Advisory Services LLC purchased a new stake in shares of Generac during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac in the 3rd quarter worth approximately $26,000. Avalon Trust Co purchased a new position in Generac in the first quarter valued at approximately $32,000. Essential Partners LLC grew its holdings in 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 purchasing an additional 61 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in Generac during the second quarter valued at $25,000. 84.04% of the stock is owned by institutional investors.

Generac Stock Performance

Generac stock opened at $206.51 on Friday. 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 firm has a market cap of $12.19 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.76 and a beta of 1.92. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. The firm has a 50-day moving average of $233.63 and a 200-day moving average of $229.33.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 earnings per share. Sell-side analysts expect that Generac Holdings Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several research reports. Barclays lowered their price target on shares of Generac from $285.00 to $278.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Needham & Company LLC upped their target price on shares of Generac from $282.00 to $283.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Generac in a report on Wednesday, June 3rd. Zacks Research raised shares of Generac from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Finally, TD Cowen restated a "buy" rating on shares of Generac in a report on Monday, July 20th. Two research 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.84.

Insider Transactions at Generac

In related news, insider Norman P. Taffe sold 550 shares of the company'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 sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares of the company's stock, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,236 shares of company stock valued at $2,871,273 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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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