Russell Investments Group Ltd. Cuts Position in Generac Holdings Inc. $GNRC

Key Points

• Russell Investments Group Ltd. reduced its stake in Generac Holdings Inc. by 25%, selling 9,026 shares and now holding 27,026 shares valued at approximately $3.4 million.
• CEO Aaron Jagdfeld sold 5,000 shares at an average price of $142.40, resulting in a total value of around $712,000, decreasing his ownership stake by 0.88%.
• Generac reported a Q2 earnings per share (EPS) of $1.65, surpassing the consensus estimate by $0.32, with revenues up 6.3% year-over-year to $1.06 billion.

Russell Investments Group Ltd. trimmed its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,026 shares of the technology company's stock after selling 9,026 shares during the quarter. Russell Investments Group Ltd.'s holdings in Generac were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. boosted its holdings in Generac by 14.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,361 shares of the technology company's stock valued at $173,000 after purchasing an additional 177 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of Generac by 24.0% during the first quarter. Rathbones Group PLC now owns 25,332 shares of the technology company's stock valued at $3,208,000 after acquiring an additional 4,910 shares during the last quarter. Dillon & Associates Inc. grew its holdings in shares of Generac by 10.7% during the first quarter. Dillon & Associates Inc. now owns 16,778 shares of the technology company's stock worth $2,131,000 after buying an additional 1,615 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Generac by 3.4% in the 1st quarter. Public Sector Pension Investment Board now owns 15,935 shares of the technology company's stock valued at $2,018,000 after acquiring an additional 530 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Generac in the 1st quarter worth $23,375,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Generac Price Performance

Shares of GNRC traded down $0.28 during mid-day trading on Thursday, reaching $186.72. 278,588 shares of the company's stock were exchanged, compared to its average volume of 930,852. 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 Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.52 and a beta of 1.68. The company has a 50-day simple moving average of $166.92 and a two-hundred day simple moving average of $139.96.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%.Generac's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GNRC shares. Roth Capital upped their target price on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their target price on Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised Generac from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $56.00 to $68.00 in a report on Monday, August 11th. TD Cowen increased their price objective on Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Generac from a "hold" rating to a "buy" rating in a research report on Sunday. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.56.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company's stock.

About Generac

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.