Generac Holdings Inc. $GNRC Shares Bought by Harbor Investment Advisory LLC

Key Points

• Harbor Investment Advisory LLC increased its holdings in Generac Holdings Inc. by 77.1%, owning 4,790 shares worth approximately $686,000 after purchasing an additional 2,086 shares in the second quarter.
• Analysts have notably raised their price targets for Generac, with UBS Group setting a new target of $220.00, and Citigroup adjusting their target to $219.00 from $138.00, reflecting strong optimism in the company's performance.
• Generac's stock has seen a 1.7% decline recently, opening at $184.70, despite reporting an earnings per share of $1.65 for the last quarter, exceeding analyst estimates of $1.33.

Harbor Investment Advisory LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 77.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,790 shares of the technology company's stock after buying an additional 2,086 shares during the period. Harbor Investment Advisory LLC's holdings in Generac were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Generac by 19.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock valued at $929,000 after buying an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Generac during the 1st quarter valued at about $245,000. Cambridge Investment Research Advisors Inc. increased its position in Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after buying an additional 3,345 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Generac by 20.8% in the first quarter. Asset Management One Co. Ltd. now owns 1,713 shares of the technology company's stock valued at $217,000 after purchasing an additional 295 shares during the period. Finally, Matrix Asset Advisors Inc. NY acquired a new position in shares of Generac in the first quarter valued at about $2,962,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and issued a $220.00 price objective (up from $200.00) on shares of Generac in a report on Thursday, July 31st. Wells Fargo & Company increased their price objective on Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen lowered Generac from a "buy" rating to a "hold" rating in a report on Monday, September 1st. Guggenheim raised Generac from a "neutral" rating to a "buy" rating and set a $190.00 price objective on the stock in a report on Tuesday, July 29th. Finally, Citigroup reissued a "neutral" rating and issued a $219.00 price objective (up from $138.00) on shares of Generac in a report on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $174.56.

Generac Stock Down 1.7%

Generac stock opened at $184.70 on Friday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.50 and a beta of 1.63. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $203.25. The business's 50-day moving average price is $176.95 and its 200 day moving average price is $143.26. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%.Generac's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total transaction of $906,050.00. Following the transaction, the chief executive officer owned 552,966 shares in the company, valued at approximately $100,202,968.86. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by company insiders.

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.

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