Chesley Taft & Associates LLC Takes Position in Generac Holdings Inc. $GNRC

Chesley Taft & Associates LLC acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,365 shares of the technology company’s stock, valued at approximately $692,000.

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

Wall Street Analyst Weigh In

GNRC has been the subject of several recent analyst reports. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. DA Davidson set a $333.00 target price on Generac in a report on Thursday, July 30th. Citigroup raised their price target on Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price target on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group lowered 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. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $284.84.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares in the company, valued at approximately $108,071,961.92. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 the business’s stock in a transaction dated Wednesday, August 5th. The shares were 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. The trade was a 3.43% 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. Over the last three months, insiders sold 11,650 shares of company stock valued at $2,746,250. 2.40% of the stock is owned by corporate insiders.

Generac Stock Up 0.7%

Shares of NYSE:GNRC opened at $212.63 on Friday. The firm has a 50 day simple moving average of $244.18 and a 200-day simple moving average of $226.22. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $12.55 billion, a PE ratio of 48.99, a P/E/G ratio of 1.82 and a beta of 1.92.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $1.65 EPS. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Generac Holdings Inc. will post 9.72 EPS for the current fiscal 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.