Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its stake in Generac Holdings Inc. by 24% during the 1st quarter, holding 25,332 shares valued at approximately $3.2 million.
• The company's CEO, Aaron Jagdfeld, sold 5,000 shares for around $712,000, resulting in a 0.88% decrease in his ownership of the company's stock.
• Generac reported a 6.3% year-over-year increase in quarterly revenue, totaling $1.06 billion, with earnings per share of $1.65, surpassing analyst expectations.

Rathbones Group PLC grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,332 shares of the technology company's stock after acquiring an additional 4,910 shares during the quarter. Rathbones Group PLC's holdings in Generac were worth $3,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GNRC. Dillon & Associates Inc. raised its holdings in shares of Generac by 10.7% in 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 during the last quarter. Public Sector Pension Investment Board increased its position in shares of 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 period. Nuveen LLC purchased a new position in Generac in the 1st quarter worth $23,375,000. Virtu Financial LLC purchased a new position in Generac in the 1st quarter worth $242,000. Finally, Invesco Ltd. lifted its position in Generac by 25.3% during the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after acquiring an additional 285,388 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Generac Price Performance

NYSE:GNRC opened at $202.86 on Thursday. 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 stock's 50-day moving average price is $153.58 and its 200-day moving average price is $136.71. The stock has a market capitalization of $11.90 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. As a group, equities analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. UBS Group restated a "buy" rating and set a $220.00 price objective (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. Robert W. Baird dropped their price objective on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup raised shares of Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $170.06.

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.

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