Scott & Selber Inc. Raises Stock Holdings in Generac Holdings Inc. $GNRC

Key Points

• Scott & Selber Inc. increased its holdings in Generac Holdings Inc. by 110.0% during the second quarter, owning 22,539 shares worth approximately $3.23 million by the end of this period.
• Analyst ratings for Generac have varied, with Wall Street Zen downgrading the stock from "buy" to "hold", while Guggenheim upgraded it from "neutral" to "buy" with a target price of $190.00.
• Generac's stock has shown a 2.5% increase, reflecting optimism after the company reported earnings of $1.65 per share, surpassing analysts' expectations.

Scott & Selber Inc. lifted its holdings in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 110.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,539 shares of the technology company's stock after purchasing an additional 11,806 shares during the quarter. Scott & Selber Inc.'s holdings in Generac were worth $3,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Independence Bank of Kentucky lifted its position in Generac by 6.2% during the second quarter. Independence Bank of Kentucky now owns 15,167 shares of the technology company's stock valued at $2,172,000 after purchasing an additional 891 shares during the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of Generac during the 2nd quarter valued at about $567,000. Formidable Asset Management LLC lifted its holdings in shares of Generac by 8.2% in the 2nd quarter. Formidable Asset Management LLC now owns 3,121 shares of the technology company's stock valued at $447,000 after acquiring an additional 236 shares during the last quarter. Signaturefd LLC grew its position in Generac by 17.9% in the second quarter. Signaturefd LLC now owns 664 shares of the technology company's stock worth $95,000 after acquiring an additional 101 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN purchased a new position in Generac in the second quarter worth about $7,574,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GNRC. Wall Street Zen cut Generac from a "buy" rating to a "hold" rating in a report on Sunday. Guggenheim upgraded Generac from a "neutral" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Tuesday, July 29th. Canaccord Genuity Group dropped their price objective on shares of Generac from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday. Roth Capital increased their target price on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Stifel Nicolaus raised their target price on shares of Generac from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Generac currently has an average rating of "Moderate Buy" and an average target price of $184.11.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $181.21, for a total transaction of $906,050.00. Following the completion of the sale, the chief executive officer owned 552,966 shares of the company's stock, valued at approximately $100,202,968.86. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company's stock.

Generac Stock Up 2.5%

NYSE:GNRC opened at $168.42 on Monday. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.35 and a beta of 1.63. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $182.37 and a 200-day simple moving average of $146.49.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. Analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

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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