Tidal Investments LLC Has $16.19 Million Stock Holdings in Generac Holdings Inc. $GNRC

Tidal Investments LLC boosted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 94.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,302 shares of the technology company’s stock after acquiring an additional 26,836 shares during the quarter. Tidal Investments LLC’s holdings in Generac were worth $16,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Callan Family Office LLC bought a new position in Generac during the 2nd quarter worth approximately $3,033,000. Hsbc Holdings PLC increased its holdings in Generac by 42.8% in the fourth 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. Virtu Financial LLC lifted its position in shares of Generac by 89.2% during the 4th quarter. Virtu Financial LLC now owns 30,377 shares of the technology company’s stock valued at $4,143,000 after acquiring an additional 14,321 shares during the period. Patton Fund Management Inc. acquired a new position in shares of Generac during the first quarter valued at about $3,797,000. Finally, Maverick Capital Ltd. acquired a new position in Generac during the 1st quarter worth approximately $1,267,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on GNRC. Canaccord Genuity Group dropped their price objective on shares of Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Stephens reaffirmed an “overweight” rating and set a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Finally, Roth Capital set a $214.00 price objective on shares of Generac in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Insider Activity at Generac

In other news, insider Kyle Raabe sold 586 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total transaction of $974,450.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,086 shares of company stock worth $2,347,160 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Generac Trading Down 2.5%

NYSE GNRC opened at $181.74 on Friday. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. 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 stock’s 50-day simple moving average is $209.04 and its two-hundred day simple moving average is $228.24. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 1.59 and a beta of 1.91.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.