Needham Investment Management LLC Boosts Stake in Generac Holdings Inc. $GNRC

Needham Investment Management LLC increased its position in Generac Holdings Inc. (NYSE:GNRC) by 213.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,500 shares of the technology company’s stock after purchasing an additional 23,500 shares during the quarter. Needham Investment Management LLC owned approximately 0.06% of Generac worth $4,705,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GNRC. Bank of Montreal Can raised its holdings in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 valued at $130,825,000 after buying an additional 536,732 shares in the last quarter. Norges Bank purchased a new stake in shares of Generac in the 4th quarter worth about $68,590,000. Robeco Schweiz AG purchased a new stake in shares of Generac in the 4th quarter worth about $51,020,000. Finally, Victory Capital Management Inc. increased its stake in shares of Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after acquiring an additional 324,809 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Up 2.9%

NYSE:GNRC opened at $269.84 on Tuesday. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 84.59, a PEG ratio of 2.45 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $245.27 and its 200-day moving average price is $202.79. Generac Holdings Inc. has a 52 week low of $123.94 and a 52 week high of $294.18.

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

Wall Street Analyst Weigh In

Several research firms recently commented on GNRC. TD Cowen boosted their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. UBS Group boosted their price target on Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America reduced their price objective on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Canaccord Genuity Group lifted their price objective on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $275.00 target price on Generac in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $278.65.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction 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, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, 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 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. 2.40% of the stock is owned by insiders.

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.