Generac Holdings Inc. $GNRC Stock Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Generac stake by 230.1% in the third quarter, ending with 23,203 shares valued at about $4.8 million. Institutional investors and hedge funds own 84.04% of the stock.
• Generac’s latest quarterly earnings per share of $2.54 beat estimates of $2.40, while revenue of $1.29 billion fell short of forecasts; revenue rose 16.2% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $290.41. Company insiders sold 12,606 shares worth about $2.49 million over the past 90 days.

CenterBook Partners LP boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 230.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,203 shares of the technology company's stock after purchasing an additional 16,174 shares during the quarter. CenterBook Partners LP's holdings in Generac were worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Heritage Family Offices LLP bought a new position in shares of Generac in the 3rd quarter valued at about $68,000. Kestra Advisory Services LLC grew its position in shares of Generac by 40.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 8,894 shares of the technology company's stock worth $1,841,000 after buying an additional 2,577 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Generac by 72.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,791 shares of the technology company's stock worth $522,000 after buying an additional 1,176 shares during the period. 3Chopt Investment Partners LLC raised its stake in shares of Generac by 21.6% during the third quarter. 3Chopt Investment Partners LLC now owns 1,227 shares of the technology company's stock worth $254,000 after buying an additional 218 shares during the last quarter. Finally, Provenance Wealth Advisors LLC raised its stake in shares of Generac by 30,625.0% during the third quarter. Provenance Wealth Advisors LLC now owns 1,229 shares of the technology company's stock worth $254,000 after buying an additional 1,225 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Price Performance

Generac stock opened at $176.13 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.06 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.39 billion, a P/E ratio of 34.88, a PEG ratio of 1.50 and a beta of 1.86. The business has a 50-day moving average of $197.79 and a 200-day moving average of $218.22. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $1.83 EPS. Generac's revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts anticipate that Generac Holdings Inc. will post 9.84 EPS for the current year.

Insider Activity at Generac

In other Generac news, insider Norman Taffe sold 400 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total value of $75,480.00. Following the completion of the sale, the insider owned 11,276 shares of the company's stock, valued at approximately $2,127,781.20. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider directly owned 9,966 shares of the company's stock, valued at $2,118,472.62. The trade was a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 12,606 shares of company stock worth $2,491,310. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HSBC lowered shares of Generac to a "hold" rating and set a $333.00 price objective on the stock. in a report on Thursday, September 17th. Zacks Research lowered shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Stephens reiterated an "overweight" rating and set a $335.00 target price on shares of Generac in a research report on Thursday, September 17th. Barclays increased their price target on Generac from $278.00 to $281.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. Finally, Needham & Company LLC raised their price target on Generac from $283.00 to $288.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $290.41.

Generac Profile

Generac Holdings Inc designs and manufactures backup power generation equipment and energy technology solutions. Its products include home standby and portable generators, as well as power systems for commercial, industrial, and other applications.

The company also offers energy storage and management products, solar-related solutions, and services that help customers monitor and manage power use. Generac serves residential, commercial, and industrial customers, with a presence in North America and other markets around the world.

Founded in 1959, Generac has expanded from its generator-manufacturing roots into a broader provider of backup power and energy management technologies.

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