Union Square Park Capital Management LLC Invests $977,000 in Generac Holdings Inc. $GNRC

Union Square Park Capital Management LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,000 shares of the technology company’s stock, valued at approximately $977,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GNRC. Invesco Ltd. boosted its holdings in Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares in the last quarter. Diamant Asset Management Inc. raised its holdings in Generac by 19,433.0% during the first 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 raised its holdings in Generac by 1,141.1% during the fourth 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. Massachusetts Financial Services Co. MA lifted its position in shares of Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after buying an additional 536,732 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Generac in the 4th quarter valued at $68,590,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Down 4.0%

Shares of Generac stock opened at $202.13 on Friday. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 63.36, a price-to-earnings-growth ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company’s 50-day simple moving average is $256.28 and its 200-day simple moving average is $222.70. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Wall Street Analyst Weigh In

GNRC has been the topic of several research analyst reports. UBS Group lifted their price target on shares of Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Roth Capital restated a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. Weiss Ratings lowered Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Cantor Fitzgerald initiated coverage on Generac in a research report on Wednesday. They set an “overweight” rating and a $325.00 target price on the stock. Finally, Stifel Nicolaus set a $275.00 target price on Generac in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.44.

Insider Buying and Selling

In related news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% 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. Over the last three months, insiders have sold 6,100 shares of company stock valued at $1,651,443. Company insiders own 2.40% of the company’s stock.

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.