Oak Family Advisors LLC Sells 10,755 Shares of Generac Holdings Inc. $GNRC

Key Points

• Oak Family Advisors reduced its Generac stake by 18.4% in the first quarter, selling 10,755 shares and leaving it with 47,826 shares valued at about $9.34 million.
• Institutional ownership remains very high at 84.04%, with several other funds notably increasing their positions in Generac during recent quarters.
• Analysts are generally upbeat on GNRC, with a consensus rating of “Moderate Buy” and an average price target of $278.65, while the stock recently traded around $284 after beating quarterly earnings expectations.

Oak Family Advisors LLC trimmed its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,826 shares of the technology company's stock after selling 10,755 shares during the period. Generac comprises about 2.6% of Oak Family Advisors LLC's holdings, making the stock its 7th biggest holding. Oak Family Advisors LLC owned 0.08% of Generac worth $9,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. lifted its stake in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock valued at $330,557,000 after buying an additional 806,430 shares in the last quarter. Bank of Montreal Can increased its position in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after acquiring an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock worth $130,825,000 after acquiring an additional 536,732 shares in the last quarter. Norges Bank acquired a new stake in shares of Generac during the fourth quarter valued at approximately $68,590,000. Finally, Robeco Schweiz AG purchased a new stake in shares of Generac in the 4th quarter valued at approximately $51,020,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Generac from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. increased their target price on Generac from $229.00 to $267.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Wells Fargo & Company raised their target price on Generac from $238.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Canaccord Genuity Group lifted their price target on Generac from $300.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Argus upped their price target on Generac from $255.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. One research 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. According to data from MarketBeat.com, Generac currently has an average rating of "Moderate Buy" and an average price target of $278.65.

Generac Stock Up 3.5%

GNRC stock opened at $284.08 on Thursday. The company has a 50 day moving average of $256.15 and a two-hundred day moving average of $208.91. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 89.05, a PEG ratio of 2.57 and a beta of 1.93. Generac Holdings Inc. has a 12-month low of $134.55 and a 12-month high of $296.03. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other Generac news, insider Norman P. Taffe sold 550 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider owned 16,108 shares in the company, valued at $4,385,564.08. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated 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 owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents 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. 2.40% of the stock is currently owned by company insiders.

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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