State of Wyoming Increases Stock Position in Generac Holdings Inc. $GNRC

Key Points

• The State of Wyoming increased its stake in Generac Holdings Inc. by 261.8%, owning 4,052 shares valued at approximately $513,000 following this investment.
• Several major hedge funds, including Vanguard Group and Invesco, also increased their holdings in Generac during the same quarter, contributing to institutional investors owning 84.04% of the company.
• Generac reported earnings of $1.65 per share for the last quarter, beating estimates significantly, while revenue increased by 6.3% year-over-year to $1.06 billion.

State of Wyoming boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 261.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,052 shares of the technology company's stock after buying an additional 2,932 shares during the quarter. State of Wyoming's holdings in Generac were worth $513,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company's stock worth $878,053,000 after buying an additional 137,363 shares during the period. Invesco Ltd. boosted its stake in Generac by 25.3% during the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after buying an additional 285,388 shares during the period. Dimensional Fund Advisors LP boosted its stake in Generac by 18.0% during the first quarter. Dimensional Fund Advisors LP now owns 859,999 shares of the technology company's stock worth $108,914,000 after buying an additional 131,460 shares during the period. Brown Advisory Inc. boosted its stake in shares of Generac by 9.0% in the first quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company's stock valued at $102,873,000 after purchasing an additional 67,180 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Generac by 5.3% in the first quarter. Jennison Associates LLC now owns 708,052 shares of the technology company's stock valued at $89,675,000 after purchasing an additional 35,839 shares during the period. Hedge funds and other institutional investors own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays set a $200.00 price objective on shares of Generac and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their price objective on shares of Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. TD Cowen raised their price objective on shares of Generac from $155.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $220.00 price objective (up previously from $200.00) on shares of Generac in a research note on Thursday, July 31st. Finally, Roth Capital raised their price objective 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. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.56.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Stock Down 1.0%

Shares of NYSE:GNRC opened at $185.09 on Friday. The firm's 50 day moving average price is $169.31 and its 200 day moving average price is $140.46. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.48 and a beta of 1.68. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50.

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

Generac Company 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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