Sanctuary Advisors LLC Takes $1.71 Million Position in Generac Holdings Inc. $GNRC

Sanctuary Advisors LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,835 shares of the technology company’s stock, valued at approximately $1,709,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in Generac in the 2nd quarter valued at $1,170,960,000. Invesco Ltd. grew its holdings in shares of Generac by 49.9% during the fourth 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 last quarter. Diamant Asset Management Inc. increased its stake in shares of Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after buying an additional 662,665 shares in the last quarter. Bank of Montreal Can increased its stake in shares of 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 buying an additional 639,551 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Generac in the fourth quarter valued at about $68,590,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Up 2.5%

Shares of NYSE:GNRC opened at $206.83 on Thursday. Generac Holdings Inc. has a one year low of $134.80 and a one year high of $296.44. The company has a 50 day moving average of $229.81 and a 200-day moving average of $230.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 1.72 and a beta of 1.92.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Generac’s revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen reissued a “buy” rating on shares of Generac in a report on Monday, July 20th. JPMorgan Chase & Co. raised their price target on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Citigroup boosted their price objective 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. Canaccord Genuity Group decreased their price objective on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Barclays lowered their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research note 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 company has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Insider Activity

In other news, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider owned 10,746 shares in the company, valued at $2,292,659.10. This represents a 5.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $2,871,273 in the last 90 days. 2.40% of the stock is owned by company insiders.

About Generac

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.