5,005 Shares in Generac Holdings Inc. $GNRC Bought by Fosun International Ltd

Fosun International Ltd purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,005 shares of the technology company’s stock, valued at approximately $1,466,000.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Generac during the 2nd quarter valued at about $1,170,960,000. Invesco Ltd. increased its stake in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. increased its stake 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 during the period. Bank of Montreal Can lifted its position in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Generac during the second quarter valued at approximately $175,942,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GNRC. Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Roth Capital set a $214.00 price objective on shares of Generac in a research report on Thursday, July 30th. Citigroup raised their target price on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Finally, Canaccord Genuity Group reduced their price target on shares of Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares in the company, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of Generac stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider owned 10,746 shares in the company, valued at approximately $2,292,659.10. This trade represents a 5.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,236 shares of company stock valued at $1,510,373. 2.40% of the stock is owned by corporate insiders.

Generac Trading Up 0.1%

Shares of NYSE:GNRC opened at $184.02 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a market cap of $10.86 billion, a P/E ratio of 42.40, a PEG ratio of 1.57 and a beta of 1.92. The stock’s fifty day moving average price is $226.30 and its 200-day moving average price is $230.46.

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

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.