Generac Holdings Inc. $GNRC Shares Acquired by Willis Investment Counsel

Key Points

• Willis Investment Counsel increased its Generac stake by 4.8% in the third quarter, bringing its holdings to 119,502 shares valued at approximately $24.7 million. Institutional investors collectively own 84.04% of GNRC.
• Analyst sentiment remains positive overall, with Generac carrying a consensus rating of “Moderate Buy” and an average price target of $290.55, despite some recent upgrades and downgrades.
• Generac reported quarterly EPS of $2.91, beating estimates of $2.01, while revenue rose 10.3% year over year to $1.17 billion. The stock traded at $194.22, down considerably from its 52-week high of $296.44.

Willis Investment Counsel lifted its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 119,502 shares of the technology company's stock after purchasing an additional 5,507 shares during the quarter. Willis Investment Counsel owned about 0.20% of Generac worth $24,731,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNRC. BlackRock Inc. acquired a new position in Generac during the second quarter valued at approximately $1,170,960,000. Arrowstreet Capital Limited Partnership increased its position in shares of Generac by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company's stock worth $202,849,000 after acquiring an additional 86,863 shares in the last quarter. Bank of America Corp DE increased its position in shares of Generac by 19.7% in the first quarter. Bank of America Corp DE now owns 742,576 shares of the technology company's stock worth $145,047,000 after acquiring an additional 122,101 shares in the last quarter. Diamant Asset Management Inc. raised its stake in shares of Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock valued at $130,104,000 after acquiring an additional 662,665 shares during the period. Finally, Park Presidio Capital LLC purchased a new position in shares of Generac in the 2nd quarter valued at $158,140,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the topic of several recent research reports. TD Cowen upgraded shares of Generac to a "strong-buy" rating in a report on Monday, October 5th. Piper Sandler initiated coverage on Generac in a report on Thursday, October 8th. They issued an "overweight" rating and a $303.00 price target for the company. Stephens reissued an "overweight" rating and issued a $335.00 price objective on shares of Generac in a research report on Thursday, September 17th. HSBC cut Generac to a "hold" rating and set a $333.00 price objective on the stock. in a research note on Thursday, September 17th. Finally, Zacks Research downgraded Generac from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and a consensus target price of $290.55.

Generac Stock Up 0.5%

GNRC traded up $0.91 during trading hours on Tuesday, reaching $194.22. 351,104 shares of the stock traded hands, compared to its average volume of 1,085,241. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.65 and a beta of 1.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm's fifty day simple moving average is $202.25 and its two-hundred day simple moving average is $227.11.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, analysts forecast that Generac Holdings Inc. will post 9.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kyle Raabe sold 603 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the transaction, the insider owned 9,966 shares in the company, valued at approximately $2,118,472.62. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 directly owned 554,528 shares of the company's stock, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,442 shares of company stock worth $3,656,537. 2.40% of the stock is currently owned by corporate insiders.

Generac Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.

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