OneAscent Financial Services LLC Invests $730,000 in Generac Holdings Inc. $GNRC

OneAscent Financial Services LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,494 shares of the technology company’s stock, valued at approximately $730,000.

Several other large investors also recently modified their holdings of GNRC. BlackRock Inc. acquired a new stake in shares of Generac in the 2nd quarter valued at about $1,170,960,000. Invesco Ltd. boosted its holdings in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. grew its position in Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares in the last quarter. Bank of Montreal Can grew its position in Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares in the last quarter. Finally, Norges Bank purchased a new stake in Generac in the 4th quarter valued at about $68,590,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Performance

NYSE GNRC opened at $206.88 on Friday. The firm has a market cap of $12.21 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.92. 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 company’s 50 day moving average is $234.74 and its 200-day moving average is $229.49. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm earned $1.65 EPS. Generac’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider owned 10,746 shares of the company’s stock, valued at approximately $2,292,659.10. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the sale, the chief executive officer directly owned 554,528 shares in the company, valued at $108,071,961.92. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 90 days. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. TD Cowen reaffirmed a “buy” rating on shares of Generac in a research report on Monday, July 20th. Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, UBS Group upped their price objective on Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

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.