Sanctuary Advisors LLC Buys Shares of 5,835 Generac Holdings Inc. $GNRC

Key Points

• Sanctuary Advisors initiated a Generac position by purchasing 5,835 shares valued at approximately $1.7 million. Institutional investors own 84.04% of the company, with several other funds also increasing or initiating holdings.
• Generac’s latest quarterly results exceeded expectations, reporting $2.91 in EPS versus the $2.01 consensus estimate. Revenue rose 10.3% year over year to $1.17 billion, though it narrowly missed estimates.
• Analysts maintain a generally positive outlook, with Generac carrying a “Moderate Buy” consensus rating and an average price target of $284.84. Shares opened at $206.83, while insiders have sold 12,236 shares worth $2.87 million over the past 90 days.

Sanctuary Advisors LLC purchased a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,835 shares of the technology company's stock, valued at approximately $1,709,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in Generac during the second quarter worth $1,170,960,000. Invesco Ltd. boosted its holdings in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. boosted its holdings in Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock valued at $130,104,000 after purchasing an additional 662,665 shares during the period. Bank of Montreal Can grew its position in Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Finally, Norges Bank acquired a new stake in Generac in the 4th quarter worth $68,590,000. 84.04% of the stock is owned by institutional investors.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction 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 completion of the transaction, the insider directly owned 15,508 shares of the company's stock, valued at approximately $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares of the company's stock, valued at approximately $108,071,961.92. The trade was a 0.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,236 shares of company stock valued at $2,871,273 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GNRC. Wells Fargo & Company upped their price objective on shares of Generac from $238.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen upgraded Generac from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Canaccord Genuity Group cut their price target on Generac from $325.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Needham & Company LLC raised their price objective on Generac from $282.00 to $283.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Finally, Argus lifted their price objective on Generac from $255.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Two equities 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. Based on data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average price target of $284.84.

Generac Stock Up 2.5%

Shares of GNRC opened at $206.83 on Thursday. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 1.72 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The company has a 50-day moving average price of $229.81 and a two-hundred day moving average price of $230.37.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $1.65 EPS. The company's revenue was up 10.3% compared to the same quarter last year. Equities analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

About Generac

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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