Mediolanum International Funds Ltd Purchases New Holdings in Generac Holdings Inc. $GNRC

Key Points

• Mediolanum International Funds Ltd opened a new position in Generac Holdings, buying 109,314 shares worth about $20.3 million in the first quarter, according to its latest 13F filing.
• Generac’s latest quarterly results were solid, with EPS of $1.80 beating estimates and revenue of $1.06 billion topping forecasts; revenue also rose 12.5% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and an average price target of $284.18, though some insiders have recently sold shares under pre-arranged trading plans.

Mediolanum International Funds Ltd purchased a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 109,314 shares of the technology company's stock, valued at approximately $20,278,000. Mediolanum International Funds Ltd owned approximately 0.19% of Generac as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DAVENPORT & Co LLC raised its position in Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company's stock worth $53,190,000 after acquiring an additional 16,229 shares in the last quarter. Private Advisory Group LLC grew its position in shares of Generac by 26.2% in the 4th quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company's stock valued at $8,016,000 after acquiring an additional 12,191 shares during the period. Hsbc Holdings PLC grew its position in shares of Generac by 42.8% in the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company's stock valued at $12,711,000 after acquiring an additional 27,893 shares during the period. Willis Investment Counsel increased its stake in shares of Generac by 10.5% during the 4th quarter. Willis Investment Counsel now owns 143,137 shares of the technology company's stock worth $19,520,000 after purchasing an additional 13,553 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Generac in the 4th quarter valued at about $699,000. Institutional investors own 84.04% of the company's stock.

Generac Stock Performance

Shares of GNRC stock opened at $214.55 on Monday. The company has a market capitalization of $12.63 billion, a price-to-earnings ratio of 67.26, a PEG ratio of 2.01 and a beta of 1.89. 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 company has a 50-day simple moving average of $262.15 and a 200 day simple moving average of $220.73. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

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

Insider Buying and Selling

In other news, insider Norman P. Taffe sold 550 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the transaction, the insider owned 15,808 shares of the company's stock, valued at approximately $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were 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 $153,653,231.04. The trade was 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. In the last 90 days, insiders have sold 6,100 shares of company stock valued at $1,651,443. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GNRC. Wells Fargo & Company raised their target price on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Stephens reissued an "overweight" rating and set a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Zacks Research lowered Generac from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 4th. Barclays raised their price objective on Generac from $228.00 to $285.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Finally, TD Cowen lifted their target price on Generac from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $284.18.

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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