Ieq Capital LLC Purchases Shares of 14,962 Generac Holdings Inc. $GNRC

Ieq Capital LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,962 shares of the technology company's stock, valued at approximately $4,381,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Generac during the second quarter worth about $1,170,960,000. Invesco Ltd. lifted its stake 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 valued at $330,557,000 after purchasing an additional 806,430 shares in the last quarter. State Street Corp lifted its stake in shares of Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company's stock valued at $313,619,000 after purchasing an additional 45,592 shares in the last quarter. Boston Partners grew its holdings in shares of Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company's stock worth $326,003,000 after purchasing an additional 128,439 shares during the period. Finally, Geode Capital Management LLC increased its position in Generac by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company's stock worth $202,943,000 after purchasing an additional 6,332 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Generac from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. UBS Group increased their target price on Generac from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Robert W. Baird set a $305.00 target price on Generac in a report on Thursday, July 30th. Argus boosted their price target on Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Zacks Research upgraded Generac from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $284.84.

Generac Price Performance

GNRC stock opened at $203.66 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The stock's 50 day moving average is $232.30 and its two-hundred day moving average is $229.95. The company has a market capitalization of $12.02 billion, a PE ratio of 46.93, a P/E/G ratio of 1.75 and a beta of 1.92.

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

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value 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 approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company's stock, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 12,236 shares of company stock worth $2,871,273. Corporate insiders own 2.40% of the company's stock.

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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