Heartland Advisors Inc. Makes New Investment in Generac Holdings Inc. $GNRC

Heartland Advisors Inc. purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, Holdings Channel reports. The fund purchased 16,153 shares of the technology company’s stock, valued at approximately $4,730,000.

A number of other institutional investors have also recently modified their holdings of GNRC. Hsbc Holdings PLC increased its stake in shares of 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 purchasing an additional 27,893 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Generac during the 1st quarter valued at $3,797,000. Needham Investment Management LLC increased its position in Generac by 213.6% during the fourth quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock worth $4,705,000 after buying an additional 23,500 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Generac during the fourth quarter worth $699,000. Finally, Maverick Capital Ltd. acquired a new position in shares of Generac in the first quarter worth $1,267,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on GNRC. Wells Fargo & Company increased their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. TD Cowen reaffirmed a “buy” rating on shares of Generac in a research note on Monday, July 20th. Stifel Nicolaus boosted their price objective on shares of Generac from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Citigroup upped their price objective on shares of Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Generac Trading Down 0.1%

NYSE GNRC opened at $206.51 on Friday. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The company has a 50-day moving average of $233.63 and a 200-day moving average of $229.33. 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 company has a market cap of $12.19 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.75 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, topping 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 firm posted $1.65 EPS. The company’s revenue was up 10.3% on a year-over-year basis. As a group, equities analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of Generac 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 transaction, the insider owned 10,746 shares in the company, valued at $2,292,659.10. This trade represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business’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 sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% 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 over the last quarter. Company insiders own 2.40% of the company’s stock.

Generac 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.