West Tower Group LLC Acquires New Holdings in Generac Holdings Inc. $GNRC

West Tower Group LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,000 shares of the technology company’s stock, valued at approximately $1,172,000. Generac makes up 3.7% of West Tower Group LLC’s holdings, making the stock its 8th largest position.

Other institutional investors also recently modified their holdings of the company. Nicollet Investment Management Inc. boosted its holdings in shares of Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock valued at $1,055,000 after acquiring an additional 50 shares in the last quarter. Root Financial Partners LLC raised its position in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. Gen Wealth Partners Inc raised its position in Generac by 8.7% in the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock valued at $92,000 after purchasing an additional 54 shares during the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Generac by 0.6% during the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 61 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Generac by 2.7% during the third quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company’s stock worth $460,000 after purchasing an additional 73 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Wells Fargo & Company raised their price target on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Research lowered shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. TD Cowen boosted their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Canaccord Genuity Group increased their price objective on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $284.18.

Generac Price Performance

GNRC stock opened at $235.94 on Wednesday. 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 firm has a market cap of $13.89 billion, a price-to-earnings ratio of 73.96, a PEG ratio of 2.41 and a beta of 1.89. The company’s fifty day simple moving average is $266.17 and its 200 day simple moving average is $215.81. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. On average, analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,100 shares of company stock worth $1,651,443. Insiders own 2.40% of the company’s stock.

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.