Fosun International Ltd Purchases New Shares in Generac Holdings Inc. $GNRC

Fosun International Ltd bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,005 shares of the technology company’s stock, valued at approximately $1,466,000.

A number of other large investors have also recently made changes to their positions in GNRC. N.E.W. Advisory Services LLC purchased a new position in shares of Generac during the second quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac in the third quarter worth approximately $26,000. Avalon Trust Co bought a new stake in shares of Generac during the 1st quarter worth approximately $32,000. Finally, Essential Partners LLC boosted its holdings in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Trading Up 0.1%

NYSE:GNRC opened at $184.02 on Monday. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The firm has a 50 day moving average of $226.30 and a 200 day moving average of $230.46. 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 has a market capitalization of $10.86 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.57 and a beta of 1.92.

Generac (NYSE:GNRC) last announced its earnings results 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 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 the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares of the company’s stock, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 7,236 shares of company stock valued at $1,510,373. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GNRC shares. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Roth Capital set a $214.00 price objective on shares of Generac in a report on Thursday, July 30th. Stephens reissued an “overweight” rating and issued a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Citigroup raised their target price on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Two 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 stock. According to data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and an average target price of $284.84.

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.