Generac Holdings Inc. $GNRC Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its stake in Generac Holdings Inc. by 11.4%, owning approximately 0.88% of the company after selling 67,134 shares.
• Generac reported a quarterly earnings per share (EPS) of $1.65, exceeding estimates and reflecting a 6.3% increase in revenue compared to the same quarter last year.
• Equities analysts maintain a consensus rating of "Moderate Buy" for Generac, with price targets ranging from $68.00 to $220.00.

Royal Bank of Canada cut its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521,425 shares of the technology company's stock after selling 67,134 shares during the quarter. Royal Bank of Canada owned approximately 0.88% of Generac worth $66,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GNRC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Generac by 19.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock worth $929,000 after acquiring an additional 1,195 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Generac during the first quarter valued at approximately $245,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Generac by 15.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after acquiring an additional 3,345 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Generac by 20.8% during the first quarter. Asset Management One Co. Ltd. now owns 1,713 shares of the technology company's stock valued at $217,000 after acquiring an additional 295 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY bought a new stake in shares of Generac during the first quarter valued at approximately $2,962,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Roth Capital boosted their price objective on Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus upped their target price on Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and set a $220.00 price target (up previously from $200.00) on shares of Generac in a research note on Thursday, July 31st. Finally, Wall Street Zen downgraded shares of Generac from a "buy" rating to a "hold" rating in a research note on Monday, September 1st. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.56.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the sale, the chief executive officer directly owned 552,966 shares in the company, valued at approximately $100,202,968.86. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Generac Stock Up 1.7%

Shares of GNRC stock traded up $3.04 during mid-day trading on Friday, hitting $181.22. The company's stock had a trading volume of 642,738 shares, compared to its average volume of 792,653. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.45 and a beta of 1.63. The business has a 50-day moving average price of $173.40 and a 200 day moving average price of $141.69.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.06 billion during 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 was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. Research analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

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.