Herbst Group LLC Boosts Position in Generac Holdings Inc. $GNRC

Herbst Group LLC raised its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 61.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,100 shares of the technology company’s stock after acquiring an additional 2,700 shares during the period. Herbst Group LLC’s holdings in Generac were worth $2,079,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GNRC. MUFG Securities EMEA plc acquired a new position in Generac during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Generac during the 3rd quarter worth about $26,000. Avalon Trust Co purchased a new position in shares of Generac during the 1st quarter valued at about $32,000. Essential Partners LLC raised its stake in shares of 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 buying an additional 61 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in shares of Generac in the 1st quarter valued at about $36,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Up 0.2%

Shares of GNRC opened at $212.63 on Monday. The firm has a market cap of $12.55 billion, a P/E ratio of 48.99, a PEG ratio of 1.82 and a beta of 1.92. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The stock’s 50 day moving average is $244.18 and its two-hundred day moving average is $226.68. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $1.65 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Generac Holdings Inc. will post 9.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The sale 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, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, 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. 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. In the last three months, insiders sold 11,650 shares of company stock valued at $2,746,250. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on GNRC shares. Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Needham & Company LLC raised their price objective on shares of Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their target price on shares of Generac from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

About Generac

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.