40,539 Shares in Generac Holdings Inc. $GNRC Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 40,539 shares of the technology company’s stock, valued at approximately $11,870,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Callan Family Office LLC purchased a new position in Generac in the 2nd quarter valued at $3,033,000. Hsbc Holdings PLC raised its position in Generac by 42.8% during the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock worth $12,711,000 after buying an additional 27,893 shares during the last quarter. Patton Fund Management Inc. acquired a new stake in shares of Generac in the 1st quarter worth $3,797,000. Needham Investment Management LLC lifted its stake in shares of Generac by 213.6% in the 4th quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock worth $4,705,000 after acquiring an additional 23,500 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in shares of Generac in the first quarter valued at about $1,267,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 of the company’s stock, valued at $108,071,961.92. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their position. 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 12,236 shares of company stock valued at $2,871,273 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GNRC shares. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Barclays reduced their price objective on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. TD Cowen reiterated a “buy” rating on shares of Generac in a research report on Monday, July 20th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC increased their target price on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Two investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Generac Stock Performance

Shares of GNRC opened at $198.52 on Friday. The company has a 50-day simple moving average of $228.20 and a 200-day simple moving average of $230.48. 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 has a market capitalization of $11.71 billion, a PE ratio of 45.74, a P/E/G ratio of 1.76 and a beta of 1.92. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week 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 analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal 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.