Wedmont Private Capital Buys New Position in Generac Holdings Inc. $GNRC

Wedmont Private Capital bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 1,575 shares of the technology company’s stock, valued at approximately $238,000.

Several other hedge funds have also modified their holdings of GNRC. Invesco Ltd. raised its holdings in shares of Generac by 25.3% during the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company’s stock valued at $179,148,000 after buying an additional 285,388 shares during the period. Jones Financial Companies Lllp increased its holdings in Generac by 5,071.6% during the 1st quarter. Jones Financial Companies Lllp now owns 250,306 shares of the technology company’s stock worth $31,701,000 after purchasing an additional 245,466 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in Generac by 77.3% during the 1st quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company’s stock worth $60,077,000 after purchasing an additional 206,311 shares during the last quarter. Nuveen LLC purchased a new stake in Generac during the 1st quarter worth approximately $23,375,000. Finally, Federated Hermes Inc. increased its holdings in Generac by 51.0% during the 1st quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company’s stock worth $58,048,000 after purchasing an additional 154,867 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Down 1.2%

GNRC opened at $181.77 on Monday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The business has a 50-day moving average of $180.24 and a 200-day moving average of $145.14. 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 $10.67 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.63.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $1.35 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. Generac has set its FY 2025 guidance at EPS. Equities research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the transaction, the chief executive officer directly owned 552,966 shares of the company’s stock, valued at approximately $100,202,968.86. This trade represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GNRC. Citigroup restated a “neutral” rating and set a $219.00 price objective (up from $138.00) on shares of Generac in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on Generac from $165.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday. Stephens reiterated an “overweight” rating and issued a $175.00 target price on shares of Generac in a research report on Tuesday, May 27th. UBS Group restated a “buy” rating and set a $220.00 price objective (up previously from $200.00) on shares of Generac in a research report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price target on Generac from $128.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average price target of $180.78.

Generac Company 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.