Jones Financial Companies Lllp Acquires 245,466 Shares of Generac Holdings Inc. $GNRC

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Generac Holdings Inc. by 5,071.6% during the first quarter, purchasing 245,466 shares and bringing their total holdings to approximately $31.7 million.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., also raised their stakes in Generac, which is currently owned 84.04% by institutional investors.
• Generac reported better-than-expected quarterly earnings, with $1.65 earnings per share (EPS), exceeding analyst estimates and showing a 6.3% increase in revenue compared to the previous year.

Jones Financial Companies Lllp increased its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 5,071.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,306 shares of the technology company's stock after buying an additional 245,466 shares during the quarter. Jones Financial Companies Lllp owned 0.42% of Generac worth $31,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Generac by 25.3% in the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after purchasing an additional 285,388 shares during the period. DAVENPORT & Co LLC increased its stake in Generac by 77.3% in the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock worth $60,077,000 after purchasing an additional 206,311 shares during the period. Nuveen LLC purchased a new position in Generac in the 1st quarter worth approximately $23,375,000. Federated Hermes Inc. increased its stake in Generac by 51.0% in the 1st quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company's stock worth $58,048,000 after purchasing an additional 154,867 shares during the period. Finally, Ariel Investments LLC increased its stake in Generac by 10.1% in the 1st quarter. Ariel Investments LLC now owns 1,615,878 shares of the technology company's stock worth $204,651,000 after purchasing an additional 148,551 shares during the period. Institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GNRC. Wall Street Zen cut Generac from a "buy" rating to a "hold" rating in a research note on Monday, September 1st. Wells Fargo & Company upped their target price on Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Guggenheim upgraded Generac from a "neutral" rating to a "buy" rating and set a $190.00 target price for the company in a report on Tuesday, July 29th. TD Cowen upped their target price on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, UBS Group restated a "buy" rating and set a $220.00 target price (up previously from $200.00) on shares of Generac in a report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $174.56.

Generac Stock Down 1.3%

GNRC stock traded down $2.50 during midday trading on Friday, hitting $185.36. The stock had a trading volume of 418,673 shares, compared to its average volume of 926,693. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.63. The business has a 50-day moving average of $176.30 and a two-hundred day moving average of $142.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast 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 stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the sale, the chief executive officer directly owned 552,966 shares of the company's stock, valued at approximately $100,202,968.86. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

Generac 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.