Vestcor Inc Purchases 5,033 Shares of Generac Holdings Inc. $GNRC

Key Points

• Vestcor Inc. boosted its stake in Generac Holdings by 453% in the fourth quarter, buying 5,033 additional shares and bringing its total holdings to 6,144 shares worth about $838,000.
• Generac’s recent earnings beat expectations, reporting EPS of $1.80 versus the $1.33 consensus and revenue of $1.06 billion, up 12.5% year over year.
• Analyst sentiment remains generally positive despite some mixed views, with the stock carrying a Moderate Buy consensus and an average price target of $276.88.

Vestcor Inc increased its position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 453.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,144 shares of the technology company's stock after purchasing an additional 5,033 shares during the quarter. Vestcor Inc's holdings in Generac were worth $838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Generac during the third quarter worth about $26,000. Sentry Investment Management LLC lifted its holdings in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Generac in the second quarter worth about $25,000. Quarry LP lifted its holdings in shares of Generac by 66.3% in the third quarter. Quarry LP now owns 399 shares of the technology company's stock worth $67,000 after acquiring an additional 159 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Generac in the third quarter worth about $67,000. Institutional investors own 84.04% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on GNRC. Robert W. Baird set a $311.00 target price on shares of Generac in a report on Thursday, April 30th. Bank of America dropped their target price on shares of Generac from $260.00 to $248.00 and set a "buy" rating for the company in a report on Thursday, March 26th. Needham & Company LLC reissued a "buy" rating on shares of Generac in a report on Tuesday, June 2nd. Zacks Research cut shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. Finally, Guggenheim reissued a "neutral" rating and issued a $202.00 target price on shares of Generac in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $276.88.

Generac Stock Performance

Generac stock opened at $265.47 on Tuesday. The business has a 50 day moving average of $238.81 and a 200-day moving average of $198.82. Generac Holdings Inc. has a 1 year low of $123.66 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company has a market capitalization of $15.63 billion, a P/E ratio of 83.22, a P/E/G ratio of 2.45 and a beta of 1.93.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The firm's revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company's stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the transaction, the insider directly owned 16,108 shares of the company's stock, valued at $4,385,564.08. This represents a 3.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company's stock.

Generac Company Profile

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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