Laurus Global Equity Management Inc. Purchases 15,600 Shares of Generac Holdings Inc. $GNRC

Key Points

• Laurus Global Equity Management Inc. increased its stake in Generac Holdings Inc. by 73.1%, acquiring an additional 15,600 shares, bringing its total to 36,950 shares valued at approximately $5.29 million.
• Generac's stock saw price target upgrades from notable analysts, with UBS raising its target to $220.00 and Wells Fargo to $180.00, indicating strong bullish sentiment.
• Generac reported earnings of $1.65 per share, surpassing analysts' expectations, with revenues rising by 6.3% year-over-year to $1.06 billion.

Laurus Global Equity Management Inc. increased its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 73.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,950 shares of the technology company's stock after purchasing an additional 15,600 shares during the quarter. Generac accounts for 3.5% of Laurus Global Equity Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Laurus Global Equity Management Inc. owned approximately 0.06% of Generac worth $5,292,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Generac by 2.0% in the first quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company's stock valued at $878,053,000 after buying an additional 137,363 shares in the last quarter. Ariel Investments LLC increased its holdings in Generac by 10.1% during the 1st quarter. Ariel Investments LLC now owns 1,615,878 shares of the technology company's stock valued at $204,651,000 after acquiring an additional 148,551 shares in the last quarter. Invesco Ltd. raised its position in Generac by 25.3% during the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after acquiring an additional 285,388 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Generac by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 859,999 shares of the technology company's stock worth $108,914,000 after acquiring an additional 131,460 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Generac by 9.0% in the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock valued at $102,873,000 after purchasing an additional 67,180 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group reissued a "buy" rating and set a $220.00 price objective (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. Stifel Nicolaus raised 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. Wells Fargo & Company upped their price objective on Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Citigroup reiterated a "neutral" rating and set a $219.00 price objective (up previously from $138.00) on shares of Generac in a research report on Tuesday, August 26th. Finally, Barclays set a $188.00 target price on shares of Generac in a research note on Monday. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.44.

Generac Stock Performance

Generac stock opened at $165.84 on Monday. The stock has a fifty day moving average price of $183.82 and a 200 day moving average price of $147.71. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $203.25. The firm has a market capitalization of $9.73 billion, a P/E ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.64. 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 (NYSE:GNRC - Get Free Report) last issued its quarterly 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 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 analyst estimates of $1.03 billion. During the same period last year, the company 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. Equities research analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $167.42, for a total transaction of $837,100.00. Following the transaction, the chief executive officer owned 547,966 shares of the company's stock, valued at $91,740,467.72. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

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