Truist Financial Corp Has $2.69 Million Stock Holdings in Generac Holdings Inc. $GNRC

Key Points

• Truist Financial Corp increased its holdings in Generac Holdings Inc. by 13.5% in Q2, owning 18,751 shares valued at approximately $2.69 million.
• CEO Aaron Jagdfeld sold 5,000 shares of Generac stock, reducing his ownership by 0.90% to approximately 547,966 shares worth about $91.74 million.
• Generac's earnings for the last quarter exceeded estimates, reporting $1.65 EPS against an expected $1.33, with revenue of $1.06 billion, up 6.3% year-over-year.

Truist Financial Corp grew its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,751 shares of the technology company's stock after acquiring an additional 2,231 shares during the quarter. Truist Financial Corp's holdings in Generac were worth $2,685,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Generac by 19.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock worth $929,000 after acquiring an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Generac during the 1st quarter worth approximately $245,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Generac by 15.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock worth $3,232,000 after acquiring an additional 3,345 shares in the last quarter. Amundi grew its stake in shares of Generac by 8.2% during the 1st quarter. Amundi now owns 105,038 shares of the technology company's stock worth $12,147,000 after acquiring an additional 7,923 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new position in shares of Generac during the 1st quarter worth approximately $299,000. 84.04% of the stock is owned by institutional investors.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total value of $837,100.00. Following the transaction, the chief executive officer owned 547,966 shares in the company, valued at $91,740,467.72. 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 available at this link. 2.70% of the stock is currently owned by corporate insiders.

Generac Stock Performance

Generac stock opened at $171.72 on Friday. Generac Holdings Inc. has a 12-month low of $99.50 and a 12-month 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. The business's 50-day moving average price is $183.62 and its two-hundred day moving average price is $148.46. The stock has a market cap of $10.08 billion, a PE ratio of 28.52, a P/E/G ratio of 1.37 and a beta of 1.64.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous 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. As a group, analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GNRC. Wall Street Zen cut shares of Generac from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Guggenheim cut their price objective on Generac from $210.00 to $202.00 and set a "buy" rating for the company in a report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Generac in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Generac from $165.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Finally, Barclays cut their price objective on Generac from $200.00 to $188.00 and set an "equal weight" rating for the company in a report on Monday. Twelve research 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 a consensus rating of "Moderate Buy" and a consensus target price of $184.11.

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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