Patton Fund Management Inc. Makes New $3.80 Million Investment in Generac Holdings Inc. $GNRC

Patton Fund Management Inc. acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,437 shares of the technology company’s stock, valued at approximately $3,797,000.

A number of other large investors have also made changes to their positions in the stock. Invesco Ltd. increased its stake in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after acquiring an additional 806,430 shares during the period. Diamant Asset Management Inc. lifted its position in shares of 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 acquiring an additional 662,665 shares during the period. Bank of Montreal Can lifted its position in shares of Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 purchasing an additional 536,732 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Generac during the 4th quarter worth approximately $68,590,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Up 0.2%

Shares of GNRC opened at $279.28 on Monday. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $16.44 billion, a PE ratio of 87.55, a PEG ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The stock has a 50 day simple moving average of $259.31 and a 200-day simple moving average of $210.65.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on GNRC. Barclays upped their target price on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Argus lifted their price target on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $275.00 price target on shares of Generac in a report on Thursday, April 30th. Bank of America dropped their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Citigroup raised their price objective on shares of Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.65.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. The trade was a 3.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently 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.