Generac Holdings Inc. $GNRC Stock Purchased by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management increased its Generac position by 238.1% in the third quarter, bringing its holdings to 42,313 shares valued at approximately $8.76 million. Institutional investors collectively own 84.04% of GNRC.
• Generac reported quarterly EPS of $2.91, exceeding the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion. Shares opened at $187.21, well below their 52-week high of $296.44.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $289.45, although several firms recently lowered their targets. Company insiders have sold 18,442 shares worth about $3.66 million over the past three months.

Evergreen Capital Management LLC lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 238.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,313 shares of the technology company's stock after purchasing an additional 29,797 shares during the period. Evergreen Capital Management LLC owned about 0.07% of Generac worth $8,757,000 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. Root Financial Partners LLC boosted its holdings in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock worth $43,000 after buying an additional 54 shares during the period. Contravisory Investment Management Inc. increased its stake in Generac by 1.5% in the 3rd quarter. Contravisory Investment Management Inc. now owns 4,027 shares of the technology company's stock worth $833,000 after buying an additional 58 shares in the last quarter. Essential Partners LLC increased its stake in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after buying an additional 61 shares in the last quarter. Oarsman Capital Inc. raised its holdings in Generac by 4.3% during the second quarter. Oarsman Capital Inc. now owns 1,492 shares of the technology company's stock valued at $437,000 after acquiring an additional 61 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Generac by 6.2% during the third quarter. Wedbush Securities Inc. now owns 1,049 shares of the technology company's stock valued at $217,000 after acquiring an additional 61 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Performance

Shares of NYSE GNRC opened at $187.21 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The company has a market cap of $11.05 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.60 and a beta of 1.91. The firm's fifty day moving average is $200.21 and its two-hundred day moving average is $227.04. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Generac Holdings Inc. will post 9.74 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, insider Norman Taffe sold 150 shares of the business's stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total value of $33,000.00. Following the sale, the insider directly owned 10,976 shares in the company, valued at approximately $2,414,720. The trade was a 1.35% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the sale, the insider owned 9,966 shares in the company, valued at $2,118,472.62. This represents a 5.71% decrease in their ownership of the stock. 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 three months, insiders have sold 18,442 shares of company stock valued at $3,656,537. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on GNRC shares. Canaccord Genuity Group boosted their price objective on Generac from $275.00 to $375.00 and gave the company a "buy" rating in a research report on Thursday, September 17th. Piper Sandler cut their target price on Generac from $303.00 to $279.00 and set an "overweight" rating for the company in a research report on Friday. Barclays cut their target price on Generac from $285.00 to $278.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. Cantor Fitzgerald decreased their target price on Generac from $333.00 to $297.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. Finally, Robert W. Baird set a $305.00 price target on Generac in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $289.45.

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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