Algert Global LLC increased its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 114.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,836 shares of the technology company's stock after purchasing an additional 51,779 shares during the quarter. Algert Global LLC owned 0.16% of Generac worth $28,355,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock valued at $309,000 after buying an additional 142 shares during the last quarter. Woodline Partners LP increased its position in shares of Generac by 40.9% during the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock worth $638,000 after acquiring an additional 1,463 shares during the last quarter. First Trust Advisors LP increased its position in shares of Generac by 27.6% during the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company's stock worth $14,507,000 after acquiring an additional 21,908 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company's stock worth $7,239,000 after acquiring an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Generac by 8.6% in the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after acquiring an additional 8,213 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.
Insider Buying and Selling
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the completion of the transaction, the chief executive officer owned 554,528 shares in the company, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% 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 valued at $2,871,273 over the last 90 days. 2.40% of the stock is currently owned by company insiders.
Generac Trading Down 1.1%
Generac stock opened at $203.66 on Tuesday. The firm's 50-day moving average is $232.30 and its 200-day moving average is $229.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a market cap of $12.02 billion, a P/E ratio of 46.93, a PEG ratio of 1.75 and a beta of 1.92.
Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 EPS. On average, equities analysts expect that Generac Holdings Inc. will post 9.78 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Citigroup lifted their price objective on Generac from $263.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Wells Fargo & Company boosted their target price on shares of Generac from $238.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Robert W. Baird set a $305.00 price target on shares of Generac in a research report on Thursday, July 30th. Finally, Stifel Nicolaus upped their price objective on Generac from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Generac has a consensus rating of "Moderate Buy" and an average target price of $284.84.
Get Our Latest Analysis on GNRC
Generac Company Profile
(
Free Report)
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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