Atreides Management LP Takes Position in Generac Holdings Inc. $GNRC

Atreides Management LP acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 182,765 shares of the technology company’s stock, valued at approximately $24,924,000.

A number of other large investors also recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. raised its position in Generac by 15,166.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 249,143 shares of the technology company’s stock worth $33,976,000 after purchasing an additional 247,511 shares during the period. Coatue Management LLC purchased a new position in Generac in the 4th quarter worth $50,349,000. EFG International AG purchased a new position in Generac in the 4th quarter worth $187,000. Equitable Holdings Inc. raised its position in Generac by 1.9% in the 4th quarter. Equitable Holdings Inc. now owns 6,817 shares of the technology company’s stock worth $930,000 after purchasing an additional 128 shares during the period. Finally, Rexford Capital Inc. raised its position in Generac by 16.7% in the 4th quarter. Rexford Capital Inc. now owns 1,395 shares of the technology company’s stock worth $190,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Stifel Nicolaus set a $275.00 target price on shares of Generac in a research report on Thursday, April 30th. Robert W. Baird set a $311.00 target price on shares of Generac in a research report on Thursday, April 30th. Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.65.

Generac Price Performance

Shares of Generac stock opened at $267.79 on Thursday. The firm has a market cap of $15.76 billion, a PE ratio of 83.95, a price-to-earnings-growth ratio of 2.49 and a beta of 1.93. Generac Holdings Inc. has a 12-month low of $124.16 and a 12-month high of $294.18. 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 fifty day simple moving average is $248.15 and its two-hundred day simple moving average is $204.45.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for 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 company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. As a group, equities analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This trade represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% 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. 2.40% of the stock is owned by company 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.