Vanguard Group Inc. Has $878.05 Million Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Key Points

• Vanguard Group Inc. increased its stake in Generac Holdings Inc. by 2.0%, owning nearly 11.63% of the company, which is valued at approximately $878 million.
• Various analysts have upgraded their ratings and price targets for Generac, with UBS Group setting a new target of $220.00, up from $200.00, reflecting growing confidence in the company's prospects.
• Generac reported a quarterly earnings per share of $1.65, exceeding expectations and marking a 6.3% revenue increase year-over-year, showcasing strong financial performance.

Vanguard Group Inc. boosted its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,932,913 shares of the technology company's stock after buying an additional 137,363 shares during the period. Vanguard Group Inc. owned approximately 11.63% of Generac worth $878,053,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. Forest Avenue Capital Management LP acquired a new position in Generac in the 4th quarter valued at about $49,313,000. Raymond James Financial Inc. acquired a new position in Generac in the 4th quarter valued at about $46,785,000. DAVENPORT & Co LLC boosted its holdings in Generac by 77.3% in the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company's stock valued at $60,077,000 after purchasing an additional 206,311 shares during the period. Federated Hermes Inc. boosted its holdings in Generac by 51.0% in the 1st quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company's stock valued at $58,048,000 after purchasing an additional 154,867 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Generac by 27.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 712,957 shares of the technology company's stock valued at $110,544,000 after purchasing an additional 153,141 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GNRC shares. Roth Capital boosted their price objective on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Barclays set a $200.00 price objective on shares of Generac and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Canaccord Genuity Group cut their price objective on shares of Generac from $200.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Janney Montgomery Scott raised shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup raised shares of Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $170.06.

Generac Price Performance

NYSE:GNRC traded down $3.82 on Thursday, hitting $199.03. The company had a trading volume of 789,175 shares, compared to its average volume of 939,900. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.59 and a beta of 1.68. 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 firm has a 50 day moving average of $153.58 and a two-hundred day moving average of $136.71. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned $1.35 EPS. On average, research analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 completion of the transaction, the chief executive officer owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by insiders.

About Generac

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.