Nuveen LLC Acquires New Holdings in Generac Holdings Inc. $GNRC

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Nuveen LLC purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 184,560 shares of the technology company's stock, valued at approximately $23,375,000. Nuveen LLC owned 0.31% of Generac at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Generac by 2.0% during 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 during the period. Invesco Ltd. increased its position in shares of Generac by 25.3% during the first 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. Brown Advisory Inc. increased its position in shares of Generac by 9.0% during the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock valued at $102,873,000 after buying an additional 67,180 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Generac by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 728,539 shares of the technology company's stock valued at $112,961,000 after buying an additional 16,954 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Generac by 27.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock valued at $110,544,000 after buying an additional 153,141 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GNRC shares. Roth Capital boosted their price target on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. TD Cowen upped their price objective on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. upgraded shares of Generac from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $56.00 to $68.00 in a report on Monday, August 11th. Finally, Canaccord Genuity Group cut their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

Generac Stock Up 2.0%

Shares of NYSE GNRC traded up $3.7950 during midday trading on Friday, hitting $194.3450. The stock had a trading volume of 872,664 shares, compared to its average volume of 1,329,714. The business's 50 day moving average is $163.03 and its 200-day moving average is $138.97. The company has a market cap of $11.40 billion, a P/E ratio of 32.28, a PEG ratio of 1.53 and a beta of 1.68. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $203.25. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. As a group, analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

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.