OneAscent Financial Services LLC Takes Position in Generac Holdings Inc. $GNRC

OneAscent Financial Services LLC purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,494 shares of the technology company’s stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Generac during the second quarter valued at $1,170,960,000. Invesco Ltd. increased its stake in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. raised its holdings 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 valued at $130,104,000 after acquiring an additional 662,665 shares in the last quarter. Bank of Montreal Can raised its holdings 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 valued at $94,859,000 after acquiring an additional 639,551 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Generac during the 4th quarter valued at about $68,590,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of Generac stock opened at $206.88 on Friday. 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 firm has a market capitalization of $12.21 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.92. The business’s 50-day moving average price is $234.74 and its 200-day moving average price is $229.49. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.Generac’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, insider Kyle Andrew Raabe sold 586 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares of the company’s stock, valued at approximately $2,292,659.10. This represents a 5.17% 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, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This trade represents a 0.88% 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 worth $2,871,273 over the last ninety days. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Wells Fargo & Company lifted their target price on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup boosted their price target on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, TD Cowen reissued a “buy” rating on shares of Generac in a report on Monday, July 20th. Two equities 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $284.84.

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.