Park Presidio Capital LLC Takes Position in Generac Holdings Inc. $GNRC

Key Points

• Park Presidio Capital LLC acquired 540,077 Generac shares worth approximately $158.1 million, representing about 0.92% of the company and 9% of the firm’s portfolio.
• Analysts maintain a generally positive outlook, with Generac receiving a “Moderate Buy” consensus rating and an average price target of $284.84.
• Generac’s latest quarterly earnings exceeded expectations, with EPS of $2.91 versus the $2.01 consensus and revenue up 10.3% year over year, although shares opened down 1.1% at $203.66.

Park Presidio Capital LLC acquired a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 540,077 shares of the technology company's stock, valued at approximately $158,140,000. Generac makes up approximately 9.0% of Park Presidio Capital LLC's holdings, making the stock its 5th biggest position. Park Presidio Capital LLC owned about 0.92% of Generac at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GNRC. N.E.W. Advisory Services LLC purchased a new stake in shares of Generac during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac during the third quarter valued at approximately $26,000. Avalon Trust Co bought a new position in Generac during the first quarter valued at approximately $32,000. Essential Partners LLC lifted its position in Generac by 57.0% during 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 in the second quarter worth approximately $25,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GNRC shares. Barclays decreased their target price on shares of Generac from $285.00 to $278.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on Generac from $238.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Weiss Ratings raised Generac from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Stifel Nicolaus upped their price objective on Generac from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised Generac from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 9th. Two research 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. According to data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average target price of $284.84.

Insider Transactions at Generac

In related news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were 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 approximately $2,292,659.10. This represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock valued at $2,871,273 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Generac Trading Down 1.1%

Shares of GNRC stock opened at $203.66 on Tuesday. 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 company has a market cap of $12.02 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.75 and a beta of 1.92. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The firm has a fifty day moving average price of $232.30 and a 200-day moving average price of $229.95.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the firm earned $1.65 EPS. Generac's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Generac 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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