Hsbc Holdings PLC Reduces Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Hsbc Holdings PLC has reduced its stake in Generac Holdings Inc. by 51.5%, now owning approximately $11.57 million worth of shares, following the sale of over 97,000 shares in the first quarter.
• Generac's latest quarterly earnings exceeded expectations, reporting $1.65 earnings per share and $1.06 billion in revenue, a 6.3% increase year-over-year.
• Institutional investors hold 84.04% of Generac’s stock, indicating strong institutional interest in the company amidst varying analyst ratings and target prices.

Hsbc Holdings PLC cut its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 51.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,573 shares of the technology company's stock after selling 97,155 shares during the period. Hsbc Holdings PLC owned about 0.15% of Generac worth $11,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Generac by 19.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock valued at $929,000 after purchasing an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Generac during the 1st quarter valued at $245,000. Cambridge Investment Research Advisors Inc. raised its position in Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after purchasing an additional 3,345 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Generac by 20.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 1,713 shares of the technology company's stock valued at $217,000 after purchasing an additional 295 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY bought a new position in shares of Generac in the 1st quarter worth $2,962,000. 84.04% of the stock is owned by institutional investors.

Generac Stock Up 0.1%

NYSE:GNRC traded up $0.25 during mid-day trading on Thursday, hitting $187.24. 574,529 shares of the company's stock traded hands, compared to its average volume of 932,721. The company has a fifty day moving average of $166.92 and a 200 day moving average of $139.96. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a market capitalization of $10.99 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.52 and a beta of 1.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00.

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

Analyst Upgrades and Downgrades

GNRC has been the subject of several recent research reports. TD Cowen boosted their price target on Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Guggenheim raised Generac from a "neutral" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Tuesday, July 29th. Stephens reissued an "overweight" rating and issued a $175.00 price target on shares of Generac in a research report on Tuesday, May 27th. Canaccord Genuity Group reduced their price target on Generac from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus boosted their price target on Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and a consensus target price of $174.56.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

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.