West Tower Group LLC Takes Position in Generac Holdings Inc. $GNRC

Key Points

• West Tower Group LLC initiated a new position in Generac Holdings, buying 6,000 shares valued at about $1.17 million. The stake now represents roughly 3.7% of the fund’s portfolio and its 8th-largest holding.
• Generac reported strong quarterly results, with EPS of $1.80 beating estimates and revenue of $1.06 billion slightly topping forecasts. Revenue rose 12.5% year over year, and analysts now expect full-year EPS of 8.91.
• Despite the positive results, the stock was noted as down 8.5% in the article, while analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $284.18. Insiders also sold shares recently, including CEO Aaron Jagdfeld and insider Norman P. Taffe.

West Tower Group LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the technology company's stock, valued at approximately $1,172,000. Generac accounts for approximately 3.7% of West Tower Group LLC's portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also made changes to their positions in GNRC. Caitong International Asset Management Co. Ltd bought a new position in Generac during the third quarter worth $26,000. MUFG Securities EMEA plc acquired a new stake in shares of Generac during the 2nd quarter worth about $25,000. GHP Investment Advisors Inc. bought a new stake in shares of Generac during the 1st quarter worth about $36,000. Root Financial Partners LLC raised its holdings in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock valued at $43,000 after acquiring an additional 54 shares during the period. Finally, Quarry LP lifted its position in Generac by 66.2% during 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. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Down 8.5%

Shares of NYSE GNRC opened at $235.94 on Wednesday. The stock has a market capitalization of $13.89 billion, a P/E ratio of 73.96, a PEG ratio of 2.41 and a beta of 1.89. The stock's fifty day moving average is $266.17 and its 200 day moving average is $215.81. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GNRC shares. Robert W. Baird set a $311.00 price target on Generac in a research note on Thursday, April 30th. TD Cowen boosted their target price on shares of Generac from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Argus upped their price target on shares of Generac from $255.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Generac from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Generac in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $284.18.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the sale, the insider owned 15,808 shares of the company's stock, valued at approximately $4,046,848. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock worth $1,651,443 in the last quarter. 2.40% of the stock is currently owned by company insiders.

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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