Blue Grotto Capital LLC Invests $26.78 Million in Generac Holdings Inc. $GNRC

Blue Grotto Capital LLC purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 160,000 shares of the technology company’s stock, valued at approximately $26,784,000. Generac comprises 3.1% of Blue Grotto Capital LLC’s holdings, making the stock its 14th biggest holding. Blue Grotto Capital LLC owned approximately 0.27% of Generac as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Generac by 40.9% in the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock valued at $285,338,000 after acquiring an additional 577,933 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Generac during the third quarter worth about $70,744,000. Norges Bank purchased a new stake in shares of Generac during the second quarter worth about $53,138,000. Victory Capital Management Inc. grew its stake in shares of Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after purchasing an additional 324,809 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Generac by 63.5% in the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock worth $107,314,000 after purchasing an additional 291,012 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GNRC shares. TD Cowen upped their price target on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. raised Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price on the stock in a research note on Monday, December 8th. Canaccord Genuity Group set a $275.00 target price on Generac in a report on Thursday, February 12th. Robert W. Baird set a $292.00 price target on shares of Generac in a report on Thursday, February 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.06.

Insider Buying and Selling at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

Generac Stock Performance

Shares of Generac stock opened at $203.96 on Friday. Generac Holdings Inc. has a 1 year low of $99.50 and a 1 year high of $241.09. The firm’s 50-day moving average is $189.98 and its 200 day moving average is $174.43. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 76.10, a PEG ratio of 1.55 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.80 earnings per share. Sell-side analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Company 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.