Hendley & Co. Inc. Acquires New Stake in Generac Holdings Inc. $GNRC

Hendley & Co. Inc. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,039 shares of the technology company’s stock, valued at approximately $1,961,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AGP Franklin LLC purchased a new stake in shares of Generac during the first quarter valued at $2,164,000. Hanson & Doremus Investment Management increased its stake in Generac by 10.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 4,062 shares of the technology company’s stock worth $793,000 after buying an additional 379 shares during the period. Values First Advisors Inc. purchased a new position in Generac in the 1st quarter worth about $424,000. Greenbush Financial Group LLC lifted its holdings in Generac by 4.0% during the 1st quarter. Greenbush Financial Group LLC now owns 8,658 shares of the technology company’s stock valued at $1,691,000 after buying an additional 329 shares in the last quarter. Finally, FFG Partners LLC bought a new stake in Generac during the 1st quarter valued at about $2,995,000. 84.04% of the stock is currently owned by institutional investors.

Generac Trading Up 6.0%

Generac stock opened at $295.79 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock has a market cap of $17.41 billion, a PE ratio of 92.72, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. The stock has a 50-day moving average of $253.22 and a two-hundred day moving average of $207.25. Generac Holdings Inc. has a one year low of $126.72 and a one year high of $296.03.

Generac (NYSE:GNRC) last issued its quarterly earnings results 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. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Activity at Generac

In related news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred 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 completion of the sale, the insider directly owned 16,108 shares in the company, valued at $4,385,564.08. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% 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. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GNRC shares. Roth Mkm restated a “neutral” rating and issued a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Canaccord Genuity Group lifted their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Bank of America dropped their price objective on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Barclays raised their price objective on Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and a consensus target price of $278.65.

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.