Federated Hermes Inc. Boosts Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Federated Hermes Inc. boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 51.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,335 shares of the technology company's stock after buying an additional 154,867 shares during the period. Federated Hermes Inc. owned approximately 0.77% of Generac worth $58,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GNRC. Hurley Capital LLC bought a new stake in Generac during the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Generac in the first quarter valued at approximately $28,000. Quadrant Capital Group LLC grew its stake in shares of Generac by 61.7% in the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after acquiring an additional 87 shares during the last quarter. Private Trust Co. NA boosted its holdings in Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock valued at $38,000 after purchasing an additional 90 shares during the period. Finally, Ostrum Asset Management acquired a new stake in Generac in the 4th quarter worth $50,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer owned 562,966 shares in the company, valued at $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company's stock.

Generac Price Performance

NYSE GNRC traded up $30.45 during midday trading on Wednesday, hitting $181.77. The company had a trading volume of 4,932,998 shares, compared to its average volume of 846,932. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94. The company has a market capitalization of $10.74 billion, a PE ratio of 31.67, a P/E/G ratio of 1.37 and a beta of 1.72. The firm has a 50-day moving average price of $138.01 and a 200-day moving average price of $133.87.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.68% and a return on equity of 18.90%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm posted $1.35 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GNRC shares. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. UBS Group lowered their price objective on Generac from $205.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wells Fargo & Company lowered their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Canaccord Genuity Group lowered their target price on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $166.16.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.