Legal & General Group Plc Purchases New Shares in Generac Holdings Inc. $GNRC

Legal & General Group Plc purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 191,331 shares of the technology company’s stock, valued at approximately $56,024,000.

Other large investors have also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new position in Generac in the second quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Generac in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the third quarter worth about $26,000. Avalon Trust Co acquired a new stake in shares of Generac during the first quarter worth about $32,000. Finally, Essential Partners LLC grew its holdings in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Down 6.7%

NYSE GNRC opened at $184.02 on Friday. 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 P/E ratio of 42.40, a P/E/G ratio of 1.68 and a beta of 1.92. 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 price of $226.30 and a 200 day moving average price of $230.15.

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

Insider Activity

In other news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the completion of the sale, the chief executive officer owned 554,528 shares in the company, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their ownership of the stock. 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. Insiders sold 12,236 shares of company stock valued at $2,871,273 in the last three months. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GNRC has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Generac from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Canaccord Genuity Group decreased their price objective on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Barclays lowered their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, DA Davidson set a $333.00 price target on Generac in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.84.

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.