Versor Investments LP Buys 7,681 Shares of Generac Holdings Inc. $GNRC

Key Points

• Versor Investments LP increased its stake in Generac Holdings Inc. by 128% during the first quarter, now holding shares worth approximately $1.73 million.
• Generac received several upgrades from analysts, with target prices set at $190 and $200, indicating confidence in the stock's performance.
• The company reported a quarterly earnings per share of $1.65, exceeding expectations and marking a revenue growth of 6.3% compared to the same period last year.

Versor Investments LP lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 128.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,681 shares of the technology company's stock after buying an additional 7,681 shares during the quarter. Versor Investments LP's holdings in Generac were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GNRC. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Generac in the 1st quarter worth about $28,000. Private Trust Co. NA raised its stake in Generac by 42.9% in the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company's stock worth $38,000 after purchasing an additional 90 shares in the last quarter. Ostrum Asset Management acquired a new stake in Generac in the 4th quarter worth about $50,000. New Age Alpha Advisors LLC acquired a new stake in Generac in the 1st quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Generac by 1,525.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 585 shares of the technology company's stock worth $74,000 after purchasing an additional 549 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Generac from $155.00 to $198.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Stephens reiterated an "overweight" rating and set a $175.00 target price on shares of Generac in a research report on Tuesday, May 27th. UBS Group reiterated a "buy" rating and set a $220.00 target price (up from $200.00) on shares of Generac in a research report on Thursday, July 31st. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Roth Capital lifted their target price on shares of Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $170.06.

Generac Stock Up 1.5%

Shares of NYSE GNRC traded up $2.9290 during trading on Friday, hitting $193.4790. The stock had a trading volume of 494,844 shares, compared to its average volume of 936,219. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $203.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The company has a market capitalization of $11.35 billion, a PE ratio of 32.14, a PEG ratio of 1.52 and a beta of 1.68. The firm has a fifty day moving average of $161.64 and a two-hundred day moving average of $138.61.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly 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 company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Generac has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal 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.