Generac Holdings Inc. $GNRC Shares Bought by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management increased its stake in Generac by 53.8% in the fourth quarter, buying 8,026 additional shares and bringing its total to 22,951 shares worth about $3.13 million.
• Generac reported better-than-expected quarterly earnings, posting $1.80 EPS versus the $1.33 consensus and revenue of $1.06 billion, up 12.5% year over year.
• Wall Street remains broadly positive on the stock, with analysts giving Generac a Moderate Buy rating and an average price target of $278.65, while several firms recently raised their targets.

Rockefeller Capital Management L.P. grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 53.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,951 shares of the technology company's stock after buying an additional 8,026 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Generac were worth $3,130,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of Generac by 6.2% during the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company's stock valued at $309,000 after purchasing an additional 142 shares during the last quarter. Woodline Partners LP lifted its holdings in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company's stock valued at $638,000 after acquiring an additional 1,463 shares during the last quarter. First Trust Advisors LP boosted its holdings in 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 buying an additional 21,908 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Generac by 1.6% in the 2nd 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 during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Generac by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company's stock worth $14,929,000 after buying an additional 8,213 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Stock Performance

Shares of NYSE:GNRC opened at $279.28 on Monday. The business's fifty day moving average price is $259.31 and its two-hundred day moving average price is $210.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 87.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of research analyst reports. Stifel Nicolaus set a $275.00 target price on shares of Generac in a research report on Thursday, April 30th. TD Cowen boosted their target price on Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. UBS Group lifted their target price on shares of Generac from $305.00 to $335.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Roth Mkm restated a "neutral" rating and set a $257.00 price target on shares of Generac in a report on Thursday, April 30th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Generac has an average rating of "Moderate Buy" and an average target price of $278.65.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the transaction, the insider directly owned 16,108 shares of the company's stock, valued at $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company's stock.

About Generac

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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