Northern Trust Corp Grows Holdings in Generac Holdings Inc. $GNRC

Key Points

• Northern Trust Corp has increased its stake in Generac Holdings Inc. by 4.8%, now owning approximately 1.00% of the company, valued at $74.6 million.
• CEO Aaron Jagdfeld sold 5,000 shares at $142.40 each, decreasing his ownership by 0.88%, while still holding shares worth approximately $80.2 million.
• Generac recently announced a 6.3% increase in revenue year-over-year, reporting $1.06 billion in the last quarter, beating estimates of $1.03 billion.

Northern Trust Corp raised its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 588,771 shares of the technology company's stock after purchasing an additional 26,980 shares during the quarter. Northern Trust Corp owned 1.00% of Generac worth $74,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in GNRC. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Generac in the 1st quarter worth approximately $28,000. Private Trust Co. NA lifted its holdings in shares of Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after acquiring an additional 90 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Generac in the 1st quarter worth approximately $54,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Generac by 1,525.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock worth $74,000 after acquiring an additional 549 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Generac by 16.2% in the 1st quarter. Covestor Ltd now owns 596 shares of the technology company's stock worth $75,000 after acquiring an additional 83 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Up 0.1%

Generac stock traded up $0.25 during mid-day trading on Thursday, reaching $187.24. 574,529 shares of the company traded hands, compared to its average volume of 932,721. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The firm's 50 day moving average price is $166.92 and its 200 day moving average price is $139.96. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.52 and a beta of 1.68. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last issued 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. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GNRC shares. Barclays set a $200.00 price objective on shares of Generac and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Citigroup reiterated a "neutral" rating and set a $219.00 price target (up from $138.00) on shares of Generac in a report on Tuesday. JPMorgan Chase & Co. upgraded shares of Generac from a "neutral" rating to an "overweight" rating and upped their price target for the company from $56.00 to $68.00 in a report on Monday, August 11th. TD Cowen upped their price target on shares of Generac from $155.00 to $198.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Robert W. Baird lowered their price target on shares of Generac from $171.00 to $127.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average target price of $174.56.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

Generac Company Profile

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.