Diamant Asset Management Inc. Has $130.10 Million Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Diamant Asset Management dramatically increased its stake in Generac, buying 662,665 additional shares in the first quarter and ending with 666,075 shares worth about $130.1 million.
• Generac reported strong quarterly results, posting EPS of $1.80 versus $1.33 expected and revenue of $1.06 billion, which was up 12.5% year over year.
• The stock has drawn mixed but generally positive attention from analysts, with a Moderate Buy consensus and a average price target of $278.65, while insiders including the CEO recently sold shares in pre-arranged trades.

Diamant Asset Management Inc. boosted its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 19,433.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 666,075 shares of the technology company's stock after purchasing an additional 662,665 shares during the quarter. Diamant Asset Management Inc. owned about 1.14% of Generac worth $130,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GNRC. Invesco Ltd. raised its position in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock valued at $330,557,000 after buying an additional 806,430 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after acquiring an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock worth $130,825,000 after acquiring an additional 536,732 shares in the last quarter. Norges Bank bought a new position in Generac in the fourth quarter valued at approximately $68,590,000. Finally, Robeco Schweiz AG bought a new position in Generac in the fourth quarter valued at approximately $51,020,000. Institutional investors own 84.04% of the company's stock.

Generac Stock Performance

Shares of Generac stock opened at $279.28 on Friday. The company's 50 day moving average price is $259.31 and its two-hundred day moving average price is $210.33. The firm has a market capitalization of $16.44 billion, a P/E ratio of 87.55, a P/E/G ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the company earned $1.26 EPS. Generac's revenue was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the sale, the insider directly owned 16,108 shares of the company's stock, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This trade represents a 0.88% 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. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Generac from $226.00 to $263.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Zacks Research cut Generac from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. TD Cowen upped their price objective on Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $275.00 price objective on Generac in a research note on Thursday, April 30th. Finally, Barclays lifted their target price on Generac from $213.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $278.65.

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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