Generac Holdings Inc. $GNRC Stock: Asset Management One Co. Ltd. Raises Position

Key Points

• Asset Management One increased its Generac position by 847.7% in the third quarter, owning 28,612 shares valued at approximately $5.9 million. Institutional investors and hedge funds collectively own 84.04% of GNRC.
• Generac’s latest quarterly results beat expectations on earnings, reporting $2.54 per share versus the $2.40 consensus, while revenue rose 16.2% year over year to $1.29 billion but fell short of estimates.
• Wall Street maintains a “Moderate Buy” consensus with an average price target of $290.41, well above the stock’s reported $197.70 opening price. Meanwhile, company insiders sold 13,442 shares worth $2.68 million over the prior three months.

Asset Management One Co. Ltd. grew its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 847.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,612 shares of the technology company's stock after buying an additional 25,593 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Generac were worth $5,925,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Independence Bank of Kentucky increased its stake in Generac by 16.4% during the 3rd quarter. Independence Bank of Kentucky now owns 19,190 shares of the technology company's stock worth $3,971,000 after acquiring an additional 2,702 shares during the period. Abundance Wealth Counselors boosted its holdings in shares of Generac by 2.6% in the third quarter. Abundance Wealth Counselors now owns 5,571 shares of the technology company's stock worth $1,153,000 after acquiring an additional 139 shares during the period. Verdence Capital Advisors LLC boosted its stake in Generac by 128.1% in the third quarter. Verdence Capital Advisors LLC now owns 3,577 shares of the technology company's stock worth $740,000 after buying an additional 2,009 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Generac by 19.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,907 shares of the technology company's stock worth $395,000 after purchasing an additional 315 shares in the last quarter. Finally, Townsend & Associates Inc boosted its stake in Generac by 0.8% during the 3rd quarter. Townsend & Associates Inc now owns 120,341 shares of the technology company's stock valued at $23,187,000 after purchasing an additional 986 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $206.00, for a total value of $1,030,000.00. Following the completion of the transaction, the chief executive officer owned 544,528 shares of the company's stock, valued at approximately $112,172,768. This represents a 0.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 150 shares of the company's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the sale, the insider owned 10,976 shares of the company's stock, valued at $2,414,720. This represents a 1.35% 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. Insiders sold a total of 13,442 shares of company stock worth $2,682,087 in the last three months. 2.40% of the stock is currently owned by company insiders.

Generac Trading Down 0.1%

GNRC opened at $197.70 on Monday. The company has a 50-day simple moving average of $199.18 and a 200 day simple moving average of $217.49. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 1.68 and a beta of 1.91.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.14. Generac had a net margin of 6.52% and a return on equity of 18.78%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $1.83 earnings per share. The business's quarterly revenue was up 16.2% compared to the same quarter last year. Analysts predict that Generac Holdings Inc. will post 9.80 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GNRC. TD Cowen raised shares of Generac to a "strong-buy" rating in a research note on Monday, October 5th. Citigroup boosted their target price on Generac from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Friday. Needham & Company LLC boosted their target price on Generac from $283.00 to $288.00 and gave the stock a "buy" rating in a research report on Thursday. KeyCorp reiterated an "overweight" rating on shares of Generac in a research note on Monday, October 26th. Finally, Roth Capital boosted their price target on Generac from $214.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $290.41.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.

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