Wellington Management Group LLP Has $7.48 Million Holdings in Generac Holdings Inc. $GNRC

Wellington Management Group LLP lessened its position in Generac Holdings Inc. (NYSE:GNRC) by 37.7% in the 2nd quarter, Holdings Channel reports. The fund owned 25,535 shares of the technology company’s stock after selling 15,427 shares during the period. Wellington Management Group LLP’s holdings in Generac were worth $7,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Callan Family Office LLC purchased a new stake in shares of Generac in the second quarter valued at $3,033,000. Hsbc Holdings PLC raised its position in Generac by 42.8% during the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after buying an additional 27,893 shares during the period. Virtu Financial LLC raised its position in Generac by 89.2% during the fourth quarter. Virtu Financial LLC now owns 30,377 shares of the technology company’s stock valued at $4,143,000 after buying an additional 14,321 shares during the period. Patton Fund Management Inc. purchased a new stake in Generac in the 1st quarter worth about $3,797,000. Finally, Maverick Capital Ltd. acquired a new stake in Generac during the 1st quarter worth about $1,267,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

Shares of GNRC stock opened at $190.28 on Wednesday. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The stock’s 50-day moving average is $212.14 and its two-hundred day moving average is $228.87. 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 firm has a market cap of $11.23 billion, a P/E ratio of 43.84, a PEG ratio of 1.60 and a beta of 1.91.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GNRC shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Roth Capital set a $214.00 price target on shares of Generac in a report on Thursday, July 30th. UBS Group raised their price target on shares of Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. DA Davidson set a $333.00 price objective on shares of Generac in a research note on Thursday, July 30th. Finally, Citigroup increased 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 investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $284.84.

Insider Buying and Selling at Generac

In other news, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the transaction, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 586 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider owned 10,746 shares in the company, valued at $2,292,659.10. This represents a 5.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,686 shares of company stock worth $2,271,680 over the last ninety days. 2.40% of the stock is currently 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.