Generac Holdings Inc. $GNRC Stock: Secure Asset Management LLC Increases Position

Secure Asset Management LLC increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 15.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,030 shares of the technology company’s stock after acquiring an additional 3,315 shares during the period. Secure Asset Management LLC’s holdings in Generac were worth $5,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Generac in the 2nd quarter worth approximately $1,170,960,000. Diamant Asset Management Inc. grew its position in 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 acquiring an additional 662,665 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Generac during the second quarter valued at approximately $175,942,000. Park Presidio Capital LLC purchased a new stake in shares of Generac during the second quarter valued at approximately $158,140,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Generac during the second quarter valued at approximately $90,872,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GNRC shares. Canaccord Genuity Group boosted their target price on shares of Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Piper Sandler began coverage on shares of Generac in a report on Thursday, October 8th. They set an “overweight” rating and a $303.00 price target for the company. Robert W. Baird set a $305.00 price objective on shares of Generac in a report on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research note on Thursday, September 17th. Finally, Barclays dropped their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $290.55.

Generac Stock Up 0.5%

NYSE:GNRC opened at $193.55 on Tuesday. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The firm has a market capitalization of $11.42 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.91. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $202.25 and a 200-day moving average of $227.11.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) 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 company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Generac Holdings Inc. will post 9.74 EPS for the current year.

Insider Buying and Selling at Generac

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider owned 15,508 shares of the company’s stock, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of Generac stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the sale, the insider directly owned 9,966 shares in the company, valued at approximately $2,118,472.62. This trade represents a 5.71% 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 sold 18,442 shares of company stock valued at $3,656,537 in the last ninety days. Company insiders own 2.40% of the company’s stock.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.