Orbis Allan Gray Ltd Boosts Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Orbis Allan Gray Ltd increased its stake in Generac Holdings Inc. by 6.7%, owning 204,691 shares worth approximately $25.9 million as of the latest reporting period.
• Multiple analysts have raised their price targets for Generac shares, with the average target now at $174.56 and a consensus rating of "Moderate Buy."
• Generac reported earnings of $1.65 per share for the latest quarter, beating analysts' expectations, and projecting strong revenue growth of 6.3% year-over-year.

Orbis Allan Gray Ltd lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,691 shares of the technology company's stock after acquiring an additional 12,876 shares during the period. Orbis Allan Gray Ltd owned 0.35% of Generac worth $25,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Vident Advisory LLC boosted its stake in shares of Generac by 23.9% in the first quarter. Vident Advisory LLC now owns 1,742 shares of the technology company's stock worth $221,000 after acquiring an additional 336 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Generac by 3.2% in the first quarter. Evergreen Capital Management LLC now owns 21,476 shares of the technology company's stock worth $2,720,000 after acquiring an additional 668 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Generac by 5.7% in the first quarter. Canada Pension Plan Investment Board now owns 73,268 shares of the technology company's stock worth $9,279,000 after acquiring an additional 3,957 shares during the last quarter. State of Wyoming boosted its stake in shares of Generac by 261.8% in the first quarter. State of Wyoming now owns 4,052 shares of the technology company's stock worth $513,000 after acquiring an additional 2,932 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Generac by 29.0% in the first quarter. Trexquant Investment LP now owns 86,245 shares of the technology company's stock worth $10,923,000 after acquiring an additional 19,390 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Trading Down 3.1%

Shares of Generac stock traded down $5.81 during trading hours on Tuesday, hitting $179.44. The company's stock had a trading volume of 990,355 shares, compared to its average volume of 932,455. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The firm has a fifty day moving average of $170.33 and a 200-day moving average of $140.69. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 1.48 and a beta of 1.63. 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 (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.35 EPS. The company's quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. Research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GNRC shares. Roth Capital lifted their price target on Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus lifted their price target on Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Stephens reissued an "overweight" rating and set a $175.00 price objective on shares of Generac in a research note on Tuesday, May 27th. Janney Montgomery Scott raised Generac from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Guggenheim raised Generac from a "neutral" rating to a "buy" rating and set a $190.00 price objective on the stock in a research note on Tuesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.56.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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.