Panagora Asset Management Inc. Has $49.91 Million Holdings in Generac Holdings Inc. $GNRC

Key Points

• Panagora Asset Management Inc. has reduced its holdings in Generac Holdings Inc. by 0.3%, selling 1,358 shares, and now owns approximately 394,041 shares valued at about $49.9 million.
• Generac's latest quarterly earnings report showed an earnings per share of $1.65, exceeding forecasts, with revenue reaching $1.06 billion, reflecting a 6.3% increase year-over-year.
• A variety of hedge funds have modified their positions in Generac, with a significant increase from Caitong International Asset Management Co. Ltd., which raised its stake by 1,525.0%.

Panagora Asset Management Inc. cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 0.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 394,041 shares of the technology company's stock after selling 1,358 shares during the quarter. Panagora Asset Management Inc. owned 0.67% of Generac worth $49,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNRC. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Generac during the 1st quarter worth about $28,000. Private Trust Co. NA raised its stake in shares of Generac by 42.9% during the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares in the last quarter. Colonial Trust Advisors raised its stake in shares of Generac by 357.1% during the 1st quarter. Colonial Trust Advisors now owns 320 shares of the technology company's stock worth $41,000 after purchasing an additional 250 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Generac during the 1st quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Generac by 1,525.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock worth $74,000 after purchasing an additional 549 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a "neutral" rating and set a $219.00 price target (up from $138.00) on shares of Generac in a research note on Tuesday, August 26th. Stifel Nicolaus raised their price objective on Generac from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. TD Cowen raised their price objective on Generac from $155.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Generac from a "buy" rating to a "hold" rating in a research note on Monday. Finally, UBS Group reissued a "buy" rating and issued a $220.00 price objective (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.56.

Generac Stock Performance

Shares of Generac stock traded down $4.43 during midday trading on Wednesday, hitting $175.08. The company had a trading volume of 781,772 shares, compared to its average volume of 931,577. The business's 50 day simple moving average is $171.20 and its two-hundred day simple moving average is $140.96. The stock has a market cap of $10.27 billion, a PE ratio of 29.08, a P/E/G ratio of 1.48 and a beta of 1.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data 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 business 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%. Generac's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Generac Holdings Inc. will post 8 EPS for the current fiscal 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.