HighTower Advisors LLC Reduces Holdings in Generac Holdings Inc. $GNRC

Key Points

• HighTower Advisors LLC has reduced its holdings in Generac Holdings Inc. by 24.1%, now owning 4,941 shares worth $626,000.
• Generac's recent quarterly earnings report showed an EPS of $1.65, exceeding estimates, with a revenue of $1.06 billion, an increase of 6.3% year-over-year.
• Analysts have provided a favorable outlook for Generac, with several upgrades and a consensus price target of $174.56, indicating confidence in the stock's future performance.

HighTower Advisors LLC decreased its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 24.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,941 shares of the technology company's stock after selling 1,568 shares during the period. HighTower Advisors LLC's holdings in Generac were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Generac by 1.1% during 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. Alaethes Wealth LLC lifted its position in Generac by 0.7% during the fourth quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock valued at $1,817,000 after acquiring an additional 78 shares during the last quarter. Covestor Ltd boosted its stake in Generac by 16.2% in the first quarter. Covestor Ltd now owns 596 shares of the technology company's stock valued at $75,000 after acquiring an additional 83 shares in the last quarter. Private Trust Co. NA grew its holdings in Generac by 42.9% in the first quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Generac by 13.1% in the first quarter. First Horizon Advisors Inc. now owns 787 shares of the technology company's stock worth $100,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. TD Cowen boosted their price target on Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $219.00 target price (up from $138.00) on shares of Generac in a research note on Tuesday, August 26th. Finally, Barclays set a $200.00 price target on shares of Generac and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average price target of $174.56.

Generac Price Performance

NYSE:GNRC traded down $3.74 during trading hours on Wednesday, reaching $175.78. 312,055 shares of the company were exchanged, compared to its average volume of 928,524. The stock's 50-day moving average is $171.20 and its 200-day moving average is $140.96. The firm has a market cap of $10.31 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. 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 Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.35 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company's stock.

About Generac

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.