Hsbc Holdings PLC Purchases 27,893 Shares of Generac Holdings Inc. $GNRC

Key Points

• HSBC Holdings PLC boosted its stake in Generac by 42.8% in the fourth quarter, buying 27,893 additional shares and bringing its total holdings to 93,080 shares valued at about $12.7 million.
• Generac shares were up 3.6% to $294.44, near their 52-week high of $296.44, as the stock continued to trade well above its 50-day and 200-day moving averages.
• The company posted strong quarterly results, with EPS of $1.80 beating estimates and revenue of $1.06 billion topping forecasts; analysts currently rate the stock a Moderate Buy with a consensus target price of $278.65.

Hsbc Holdings PLC lifted its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,080 shares of the technology company's stock after purchasing an additional 27,893 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Generac worth $12,711,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock worth $330,557,000 after buying an additional 806,430 shares during the last quarter. State Street Corp grew its position in Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company's stock worth $313,619,000 after acquiring an additional 45,592 shares in the last quarter. Victory Capital Management Inc. grew its position in Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company's stock worth $355,530,000 after acquiring an additional 324,809 shares in the last quarter. Boston Partners increased its stake in Generac by 7.1% during the third quarter. Boston Partners now owns 1,947,332 shares of the technology company's stock worth $326,003,000 after acquiring an additional 128,439 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Generac by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company's stock valued at $202,943,000 after purchasing an additional 6,332 shares during the period. Institutional investors own 84.04% of the company's stock.

Generac Trading Up 3.6%

GNRC opened at $294.44 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock's 50 day moving average price is $257.80 and its 200-day moving average price is $209.84. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of 92.30, a P/E/G ratio of 2.66 and a beta of 1.93.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $1.26 EPS. Generac's quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

GNRC has been the subject of a number of recent research reports. TD Cowen lifted their target price on Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Citigroup increased their price target on Generac from $226.00 to $263.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on shares of Generac from $229.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Zacks Research cut shares of Generac from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 4th. Finally, Argus increased their target price on shares of Generac from $255.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $278.65.

Insiders Place Their Bets

In other news, insider Norman P. Taffe sold 550 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company's stock.

Generac Company 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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