Heartland Advisors Inc. Purchases Shares of 16,153 Generac Holdings Inc. $GNRC

Key Points

• Heartland Advisors acquired 16,153 Generac shares worth approximately $4.73 million during the second quarter, while institutional investors collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, beating estimates of $2.01, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Insiders sold 12,236 shares worth $2.87 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84.

Heartland Advisors Inc. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,153 shares of the technology company's stock, valued at approximately $4,730,000.

Several other large investors have also recently added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC acquired a new position in shares of Generac in the second quarter worth $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Generac in the third quarter valued at $26,000. Avalon Trust Co purchased a new position in Generac in the first quarter valued at $32,000. Finally, Essential Partners LLC grew its stake in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after purchasing an additional 61 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Generac

In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company's stock, valued at $3,393,615.64. This trade 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 available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer directly owned 554,528 shares of the company's stock, valued at approximately $108,071,961.92. This represents a 0.89% 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. Insiders sold a total of 12,236 shares of company stock valued at $2,871,273 in the last ninety days. Insiders own 2.40% of the company's stock.

Generac Stock Performance

Shares of Generac stock opened at $206.51 on Friday. The firm's fifty day simple moving average is $233.63 and its 200-day simple moving average is $229.33. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 47.58, a PEG ratio of 1.75 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. Generac's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. As a group, equities analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens reaffirmed an "overweight" rating and issued a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Roth Capital set a $214.00 price target on shares of Generac in a report on Thursday, July 30th. Finally, UBS Group increased their price objective on shares of Generac from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average target price of $284.84.

Generac Profile

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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