Matrix Asset Advisors Inc. NY Increases Stock Position in Generac Holdings Inc. $GNRC

Key Points

• Matrix Asset Advisors Inc. increased its stake in Generac Holdings Inc. by 185.5% in Q2, now owning 66,772 shares valued at approximately $9.56 million.
• Generac recently reported strong earnings, with $1.65 EPS, beating analyst estimates of $1.33, and a revenue increase of 6.3% year-over-year.
• Analysts have mixed sentiments; Wells Fargo raised their price target to $180, while Citigroup downgraded the stock to "negative," reflecting a consensus target price of $184.11.

Matrix Asset Advisors Inc. NY grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 185.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,772 shares of the technology company's stock after buying an additional 43,382 shares during the period. Matrix Asset Advisors Inc. NY owned 0.11% of Generac worth $9,562,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GNRC. Invesco Ltd. grew its stake in shares of Generac by 25.3% during the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock valued at $179,148,000 after buying an additional 285,388 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Generac by 5,071.6% during the 1st quarter. Jones Financial Companies Lllp now owns 250,306 shares of the technology company's stock valued at $31,701,000 after buying an additional 245,466 shares during the period. DAVENPORT & Co LLC grew its stake in shares of Generac by 77.3% during the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock valued at $60,077,000 after buying an additional 206,311 shares during the period. Nuveen LLC purchased a new stake in shares of Generac during the 1st quarter valued at $23,375,000. Finally, Federated Hermes Inc. boosted its position in Generac by 51.0% during 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. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Down 1.0%

Shares of Generac stock opened at $170.23 on Friday. The business has a 50-day moving average of $183.16 and a 200-day moving average of $148.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The company has a market capitalization of $9.99 billion, a PE ratio of 28.28, a P/E/G ratio of 1.36 and a beta of 1.64. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last announced its 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 company had revenue of $1.06 billion during 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 revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Generac Holdings Inc. will post 8 EPS 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 dated 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 approximately $91,740,467.72. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GNRC. Wells Fargo & Company upped their price target on shares of Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Citigroup cut shares of Generac from a "neutral" rating to a "negative" rating in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. TD Cowen upped their price target on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Roth Capital upped their price target on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $184.11.

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.

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