Victory Capital Management Inc. boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 54.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,356 shares of the technology company’s stock after buying an additional 2,578 shares during the period. Victory Capital Management Inc.’s holdings in Generac were worth $1,097,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of GNRC. Parkside Financial Bank & Trust increased its holdings in shares of Generac by 158.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 248 shares of the technology company’s stock valued at $27,000 after purchasing an additional 152 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Generac in the 1st quarter valued at approximately $28,000. Castleview Partners LLC bought a new stake in shares of Generac in the 1st quarter valued at approximately $30,000. Cambridge Trust Co. grew its stake in shares of Generac by 50.0% in the 1st quarter. Cambridge Trust Co. now owns 300 shares of the technology company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, TCTC Holdings LLC bought a new stake in shares of Generac in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.59% of the company’s stock.
Wall Street Analysts Forecast Growth
GNRC has been the subject of several recent research reports. OTR Global raised Generac from a “negative” rating to a “mixed” rating in a research note on Thursday, October 5th. CL King assumed coverage on Generac in a research note on Monday, July 24th. They issued a “buy” rating and a $178.00 price target for the company. Canaccord Genuity Group decreased their target price on Generac from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Oppenheimer decreased their target price on Generac from $145.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. Finally, Bank of America upped their target price on Generac from $93.00 to $94.00 in a research report on Friday, September 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac has an average rating of “Hold” and a consensus price target of $141.17.
Generac Price Performance
Generac stock opened at $82.22 on Tuesday. The business’s 50-day simple moving average is $106.27 and its 200 day simple moving average is $116.69. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 1.54 and a beta of 1.29. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The company has a quick ratio of 0.89, a current ratio of 2.43 and a debt-to-equity ratio of 0.63.
Generac (NYSE:GNRC – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.08). Generac had a return on equity of 14.23% and a net margin of 4.64%. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $979.51 million. During the same quarter last year, the business posted $2.99 EPS. Generac’s quarterly revenue was down 22.5% on a year-over-year basis. As a group, research analysts anticipate that Generac Holdings Inc. will post 5.32 earnings per share for the current year.
Insiders Place Their Bets
In other Generac news, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $108.24, for a total transaction of $27,060.00. Following the transaction, the executive vice president now owns 15,868 shares in the company, valued at $1,717,552.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $108.24, for a total transaction of $27,060.00. Following the sale, the executive vice president now owns 15,868 shares of the company’s stock, valued at $1,717,552.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $108.24, for a total value of $541,200.00. Following the sale, the chief executive officer now directly owns 597,690 shares in the company, valued at approximately $64,693,965.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,500 shares of company stock worth $1,199,468. Insiders own 2.80% of the company’s stock.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.
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