NewEdge Advisors LLC Buys 19,926 Shares of Generac Holdings Inc. $GNRC

Key Points

• NewEdge Advisors increased its Generac stake by 771.7% in the second quarter, buying 19,926 additional shares for a total of 22,508 shares valued at approximately $6.59 million. Institutional investors collectively own 84.04% of GNRC.
• Generac insiders sold 12,086 shares worth about $2.35 million over the past quarter, including sales by CEO Aaron Jagdfeld and insider Kyle Raabe under pre-arranged Rule 10b5-1 plans.
• Wall Street maintains a generally positive view, with the stock rated “Moderate Buy” and an average price target of $284.84. Generac also exceeded quarterly EPS expectations, reporting $2.91 versus the $2.01 consensus estimate, while revenue rose 10.3% year over year.

NewEdge Advisors LLC raised its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 771.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,508 shares of the technology company's stock after acquiring an additional 19,926 shares during the quarter. NewEdge Advisors LLC's holdings in Generac were worth $6,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Nicollet Investment Management Inc. grew its stake in shares of Generac by 0.7% during the fourth quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company's stock valued at $1,055,000 after purchasing an additional 50 shares during the last quarter. Root Financial Partners LLC raised its position in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 54 shares during the last quarter. Gen Wealth Partners Inc raised its position in Generac by 8.7% in the 4th quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company's stock worth $92,000 after purchasing an additional 54 shares during the last quarter. Essential Partners LLC lifted its holdings in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after buying an additional 61 shares in the last quarter. Finally, Oarsman Capital Inc. lifted its holdings in Generac by 4.3% during the 2nd quarter. Oarsman Capital Inc. now owns 1,492 shares of the technology company's stock worth $437,000 after buying an additional 61 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kyle Raabe sold 586 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 10,746 shares of the company's stock, valued at $2,292,659.10. This represents a 5.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total transaction of $974,450.00. Following the completion of the sale, the chief executive officer owned 554,528 shares in the company, valued at $108,071,961.92. This represents a 0.89% 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 quarter, insiders have sold 12,086 shares of company stock worth $2,347,160. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GNRC. Needham & Company LLC increased their price objective on Generac from $282.00 to $283.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Weiss Ratings raised Generac from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group decreased their price target on Generac from $325.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Raymond James Financial set a $302.00 price objective on Generac in a research report on Friday, May 22nd. Finally, DA Davidson set a $333.00 price objective on Generac in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $284.84.

Generac Stock Performance

Shares of Generac stock opened at $186.92 on Monday. The firm has a fifty day moving average of $207.71 and a two-hundred day moving average of $227.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 1.59 and a beta of 1.91. 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 posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm's revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. As a group, equities research analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.

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