Patton Fund Management Inc. Invests $3.80 Million in Generac Holdings Inc. $GNRC

Patton Fund Management Inc. purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 19,437 shares of the technology company’s stock, valued at approximately $3,797,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. Invesco Ltd. raised its position in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. grew its holdings in shares of Generac by 19,433.0% during the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after buying an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after buying an additional 536,732 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Generac in the fourth quarter valued at about $68,590,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GNRC. UBS Group upped their price target 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. TD Cowen raised their price objective on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial set a $302.00 price target on shares of Generac in a research note on Friday, May 22nd. One research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $278.65.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. 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 currently owned by company insiders.

Generac Trading Up 0.2%

Shares of GNRC opened at $279.28 on Monday. The stock’s fifty day simple moving average is $259.31 and its 200-day simple moving average is $210.65. The firm has a market capitalization of $16.44 billion, a PE ratio of 87.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

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.