Ascent Group LLC Reduces Stock Position in Generac Holdings Inc. $GNRC

Ascent Group LLC reduced its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 70.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,402 shares of the technology company’s stock after selling 3,325 shares during the period. Ascent Group LLC’s holdings in Generac were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GNRC. MassMutual Private Wealth & Trust FSB lifted its holdings in Generac by 81.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock worth $25,000 after buying an additional 77 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Generac in the first quarter worth about $28,000. Creative Capital Management Investments LLC lifted its holdings in Generac by 740.7% in the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock worth $33,000 after buying an additional 200 shares during the period. Legend Financial Advisors Inc. purchased a new stake in Generac in the second quarter worth about $36,000. Finally, Private Trust Co. NA lifted its holdings in Generac by 42.9% in the first quarter. Private Trust Co. NA now owns 300 shares of the technology company’s stock worth $38,000 after buying an additional 90 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Trading Up 2.4%

Shares of Generac stock opened at $171.00 on Thursday. The company’s fifty day simple moving average is $184.09 and its 200-day simple moving average is $148.23. The stock has a market capitalization of $10.03 billion, a PE ratio of 28.41, a P/E/G ratio of 1.33 and a beta of 1.64. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $203.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.32. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Generac Holdings Inc. will post 8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on GNRC shares. Wells Fargo & Company raised their price objective on shares of Generac from $128.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Citigroup reiterated a “neutral” rating and set a $219.00 target price (up from $138.00) on shares of Generac in a report on Tuesday, August 26th. UBS Group reiterated a “buy” rating and set a $220.00 target price (up from $200.00) on shares of Generac in a report on Thursday, July 31st. Guggenheim upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Generac from $165.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Twelve analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.44.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $167.42, for a total transaction of $837,100.00. Following the sale, the chief executive officer directly owned 547,966 shares in the company, valued at approximately $91,740,467.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.