Generac Holdings Inc. (NYSE:GNRC) Shares Bought by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC increased its stake in Generac Holdings Inc. by 17.6% during the first quarter, owning 64,330 shares worth approximately $8.15 million.
• Several analysts have recently changed their ratings on Generac, with Guggenheim upgrading the stock to a "buy" and setting a target price of $190.
• Generac reported a stronger-than-expected quarterly earnings of $1.65 per share, exceeding analyst estimates and showing a 6.3% year-over-year revenue growth.

Gagnon Securities LLC raised its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,330 shares of the technology company's stock after acquiring an additional 9,648 shares during the quarter. Generac accounts for about 1.8% of Gagnon Securities LLC's investment portfolio, making the stock its 22nd largest holding. Gagnon Securities LLC owned approximately 0.11% of Generac worth $8,147,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Generac by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company's stock valued at $1,001,000 after buying an additional 72 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Generac by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company's stock valued at $2,636,000 after buying an additional 77 shares during the last quarter. Alaethes Wealth LLC lifted its stake in Generac by 0.7% in the fourth quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock valued at $1,817,000 after buying an additional 78 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Generac by 3.9% in the fourth quarter. Wedbush Securities Inc. now owns 2,235 shares of the technology company's stock valued at $347,000 after buying an additional 84 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Generac by 61.7% in the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock valued at $35,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the topic of a number of recent research reports. Guggenheim upgraded Generac from a "neutral" rating to a "buy" rating and set a $190.00 target price on the stock in a research note on Tuesday, July 29th. Stephens reissued an "overweight" rating and set a $175.00 price target on shares of Generac in a report on Tuesday, May 27th. TD Cowen lifted their price objective on shares of Generac from $155.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citigroup upgraded shares of Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. Finally, Roth Capital lifted their price objective on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Generac presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.28.

Generac Trading Down 1.7%

Shares of GNRC opened at $193.98 on Thursday. The business's 50-day moving average price is $146.27 and its 200 day moving average price is $135.40. The stock has a market capitalization of $11.46 billion, a P/E ratio of 32.22, a P/E/G ratio of 1.57 and a beta of 1.68. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $199.89. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%. Generac's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction 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. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac 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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