Wealth Effects LLC Invests $1.61 Million in Generac Holdings Inc. $GNRC

Key Points

• Wealth Effects LLC initiated a $1.61 million position in Generac Holdings during the second quarter, purchasing 5,485 shares. Institutional investors collectively own 84.04% of the company.
• Generac reported quarterly EPS of $2.91, surpassing the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion, slightly below expectations.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84; meanwhile, company insiders sold 12,236 shares worth $2.87 million over the past 90 days.

Wealth Effects LLC bought a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,485 shares of the technology company's stock, valued at approximately $1,606,000.

Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Generac by 42.8% during the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company's stock valued at $12,711,000 after acquiring an additional 27,893 shares in the last quarter. Patton Fund Management Inc. bought a new stake in shares of Generac in the 1st quarter worth $3,797,000. Paradice Investment Management LLC grew its stake in shares of Generac by 16.9% in the 4th quarter. Paradice Investment Management LLC now owns 211,861 shares of the technology company's stock worth $28,891,000 after acquiring an additional 30,578 shares in the last quarter. Needham Investment Management LLC raised its holdings in shares of Generac by 213.6% in the fourth quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company's stock valued at $4,705,000 after purchasing an additional 23,500 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Generac in the fourth quarter valued at about $699,000. Institutional investors own 84.04% of the company's stock.

Generac Trading Up 0.1%

Shares of GNRC stock opened at $219.58 on Monday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The firm has a market cap of $12.96 billion, a P/E ratio of 50.59, a PEG ratio of 1.88 and a beta of 1.92. The company has a 50 day moving average of $238.22 and a 200-day moving average of $228.31. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. Generac's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that Generac Holdings Inc. will post 9.72 earnings per share for the current year.

Analysts Set New Price Targets

GNRC has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Generac from $238.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. Stifel Nicolaus increased their price objective on shares of Generac from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citigroup increased their price objective on shares of Generac from $263.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Raymond James Financial set a $302.00 target price on shares of Generac in a research report on Friday, May 22nd. Finally, Barclays cut their target price on Generac from $285.00 to $278.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and an average price target of $284.84.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the transaction, the chief executive officer owned 554,528 shares of the company's stock, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider owned 15,508 shares of the company's stock, valued at $3,393,615.64. The trade was a 3.43% 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. Insiders have sold a total of 12,236 shares of company stock worth $2,871,273 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

Generac 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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