Patten & Patten Inc. TN Has $745,000 Holdings in Generac Holdings Inc. $GNRC

Key Points

• Patten & Patten Inc. TN reduced its stake in Generac Holdings Inc. by 42.5%, now holding shares valued at $745,000 after selling 3,849 shares in the second quarter.
• The stock price of Generac has seen significant analyst interest, with Wells Fargo and UBS setting price targets of $180.00 and $220.00 respectively.
• Generac reported earnings of $1.65 per share for the last quarter, surpassing analyst expectations and showing a 6.3% increase in year-over-year revenue.

Patten & Patten Inc. TN lessened its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 42.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the technology company's stock after selling 3,849 shares during the period. Patten & Patten Inc. TN's holdings in Generac were worth $745,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GNRC. Pine Haven Investment Counsel Inc grew its holdings in Generac by 2.7% during the second quarter. Pine Haven Investment Counsel Inc now owns 2,861 shares of the technology company's stock worth $410,000 after purchasing an additional 75 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Generac by 81.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company's stock worth $25,000 after purchasing an additional 77 shares during the period. Covestor Ltd grew its holdings in Generac by 16.2% during the first quarter. Covestor Ltd now owns 596 shares of the technology company's stock worth $75,000 after purchasing an additional 83 shares during the period. Fiduciary Alliance LLC grew its holdings in Generac by 4.1% during the second quarter. Fiduciary Alliance LLC now owns 2,259 shares of the technology company's stock worth $324,000 after purchasing an additional 89 shares during the period. Finally, Private Trust Co. NA grew its holdings in Generac by 42.9% during the first quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares during the period. Institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GNRC shares. Wells Fargo & Company raised their price objective on shares of Generac from $128.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. UBS Group restated a "buy" rating and set a $220.00 price objective (up from $200.00) on shares of Generac in a research report on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Generac in a research report on Wednesday, October 8th. Canaccord Genuity Group cut their price objective on shares of Generac from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Thursday, September 25th. Finally, Roth Capital raised their price objective on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Generac presently has an average rating of "Moderate Buy" and a consensus price target of $185.00.

Generac Stock Up 0.3%

NYSE GNRC opened at $192.32 on Friday. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25. The company has a 50 day moving average of $182.38 and a 200-day moving average of $150.24. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.53 and a beta of 1.64.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $1.35 earnings per share. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $167.42, for a total value of $837,100.00. Following the completion of the sale, the chief executive officer directly owned 547,966 shares in the company, valued at approximately $91,740,467.72. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company's stock.

Generac Profile

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.

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