Energy Income Partners LLC Makes New Investment in Generac Holdings Inc. $GNRC

Key Points

• Energy Income Partners acquired 263,559 Generac shares worth approximately $77.2 million, representing a 0.45% stake. Institutional investors collectively own 84.04% of the company.
• Analysts maintain a generally positive outlook, with Generac receiving a “Moderate Buy” consensus rating and an average price target of $284.84; Cantor Fitzgerald recently raised its target to $333.
• Generac exceeded quarterly earnings expectations, reporting $2.91 in EPS versus the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion. The stock opened at $211.76, down 4.3%.

Energy Income Partners LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 263,559 shares of the technology company's stock, valued at approximately $77,173,000. Energy Income Partners LLC owned 0.45% of Generac as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Generac in the 2nd quarter valued at about $1,170,960,000. Invesco Ltd. increased its holdings 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 valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. increased its holdings in shares of 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 raised its stake in shares of Generac by 1,141.1% during the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Generac during the fourth quarter worth $68,590,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GNRC has been the topic of several recent research reports. Cantor Fitzgerald boosted their price objective on shares of Generac from $325.00 to $333.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Generac from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Raymond James Financial set a $302.00 price objective on Generac in a report on Friday, May 22nd. Stephens reiterated an "overweight" rating and set a $290.00 target price on shares of Generac in a research report on Thursday, May 21st. Finally, Weiss Ratings raised Generac from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $284.84.

Generac Stock Down 4.3%

Shares of NYSE GNRC opened at $211.76 on Wednesday. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 48.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.92. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The firm has a 50-day moving average price of $236.36 and a 200 day moving average price of $228.93. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the transaction, the insider directly owned 15,508 shares of the company's stock, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares in the company, valued at approximately $108,071,961.92. The trade was a 0.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock valued at $2,871,273 in the last quarter. 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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