Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Generac Holdings Inc. $GNRC

Key Points

• Mitsubishi UFJ Asset Management acquired 78,337 Generac shares worth approximately $22.9 million, while institutional investors collectively own 84.04% of the company.
• Generac insiders sold 12,236 shares valued at about $2.87 million over the past 90 days, including transactions by Kyle Andrew Raabe and Norman P. Taffe under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $284.84. Generac’s latest quarterly EPS of $2.91 exceeded estimates, while revenue rose 10.3% year over year to $1.17 billion.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 78,337 shares of the technology company's stock, valued at approximately $22,938,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of Generac at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Generac during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac in the 3rd quarter valued at about $26,000. Avalon Trust Co acquired a new stake in shares of Generac in the first quarter valued at about $32,000. Essential Partners LLC lifted its stake in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company's stock valued at $33,000 after purchasing an additional 61 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in Generac during the second quarter worth about $25,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Insiders Place Their Bets

In other news, insider Kyle Andrew Raabe sold 586 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider directly owned 10,746 shares of the company's stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company's stock in a transaction on 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 owned 15,508 shares in the company, valued at $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 12,236 shares of company stock valued at $2,871,273. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Needham & Company LLC upped their target price on shares of Generac from $282.00 to $283.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Barclays reduced their price target on shares of Generac from $285.00 to $278.00 and set an "equal weight" rating for the company in a research 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 note on Thursday, April 30th. Robert W. Baird set a $305.00 price target on Generac in a report on Thursday, July 30th. Finally, Raymond James Financial set a $302.00 price objective on Generac in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.84.

Generac Stock Down 1.9%

Shares of NYSE GNRC opened at $206.88 on Friday. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The company has a market capitalization of $12.21 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm's 50-day moving average is $234.74 and its two-hundred day moving average is $229.49.

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

Generac Company 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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