Equitable Holdings Inc. Invests $4.21 Million in Generac Holdings Inc. $GNRC

Key Points

• Equitable Holdings purchased 14,371 Generac shares worth approximately $4.21 million in the second quarter. Institutional investors collectively own 84.04% of Generac’s outstanding stock.
• Generac reported quarterly EPS of $2.91, surpassing analysts’ $2.01 estimate, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Shares recently traded at $198.52, down 3.9%, while analysts maintained a “Moderate Buy” consensus and an average price target of $284.84. Insiders, however, sold 12,236 shares worth about $2.87 million over the past three months.

Equitable Holdings Inc. bought a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,371 shares of the technology company's stock, valued at approximately $4,208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. MUFG Securities EMEA plc purchased a new stake in shares of Generac in the 2nd quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Generac in the third quarter worth $26,000. Avalon Trust Co purchased a new stake in Generac during the first quarter valued at about $32,000. Finally, Essential Partners LLC grew its stake in shares of 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 buying an additional 61 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Down 3.9%

Shares of Generac stock opened at $198.52 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 company's fifty day simple moving average is $228.20 and its two-hundred day simple moving average is $230.48. The company has a market cap of $11.71 billion, a P/E ratio of 45.74, a PEG ratio of 1.76 and a beta of 1.92. 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 posted its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion during 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 company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. Research analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GNRC shares. Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Stephens reiterated an "overweight" rating and issued a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. Zacks Research raised Generac from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Citigroup raised their target price on shares of Generac from $263.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Finally, Argus upped their price target on shares of Generac from $255.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 30th. 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's stock. According to data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $284.84.

Insiders Place Their Bets

In other news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider owned 10,746 shares of the company's stock, valued at approximately $2,292,659.10. This represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,236 shares of company stock worth $2,871,273 over the last three months. Company insiders own 2.40% of the company's stock.

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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