Fifth Third Bancorp Raises Stake in Generac Holdings Inc. $GNRC

Fifth Third Bancorp raised its stake in Generac Holdings Inc. (NYSE:GNRC) by 11.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,913 shares of the technology company’s stock after acquiring an additional 289 shares during the quarter. Fifth Third Bancorp’s holdings in Generac were worth $417,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Unified Investment Management lifted its holdings in Generac by 8.9% in the second quarter. Unified Investment Management now owns 7,714 shares of the technology company’s stock valued at $1,105,000 after acquiring an additional 633 shares during the period. Eaton Financial Holdings Company LLC acquired a new position in Generac in the second quarter valued at approximately $277,000. GSB Wealth Management LLC acquired a new position in Generac in the second quarter valued at approximately $361,000. GAMMA Investing LLC lifted its holdings in Generac by 18.5% in the second quarter. GAMMA Investing LLC now owns 1,318 shares of the technology company’s stock valued at $189,000 after acquiring an additional 206 shares during the period. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Generac in the second quarter valued at approximately $488,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Down 1.7%

NYSE GNRC opened at $165.48 on Tuesday. The business has a fifty day moving average price of $182.67 and a 200 day moving average price of $146.74. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $203.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. The company has a market cap of $9.71 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.35 and a beta of 1.63.

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

Analysts Set New Price Targets

GNRC has been the subject of a number of analyst reports. Guggenheim raised Generac from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a report on Tuesday, July 29th. Wall Street Zen downgraded Generac from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group reaffirmed a “buy” rating and set a $220.00 target price (up from $200.00) on shares of Generac in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on Generac from $165.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Finally, Barclays set a $200.00 target price on Generac and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.11.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 552,966 shares of the company’s stock, valued at approximately $100,202,968.86. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

About Generac

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.