Wealth High Governance Capital Ltda Buys New Holdings in Generac Holdings Inc. $GNRC

Wealth High Governance Capital Ltda purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the second quarter, HoldingsChannel reports. The fund purchased 82,805 shares of the technology company’s stock, valued at approximately $24,246,000. Generac accounts for approximately 7.3% of Wealth High Governance Capital Ltda’s portfolio, making the stock its biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC bought a new stake in shares of Generac during the second quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the third quarter worth $26,000. Avalon Trust Co purchased a new position in Generac during the first quarter valued at $32,000. Finally, Essential Partners LLC grew its stake in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Stock Up 0.3%

Shares of NYSE GNRC opened at $206.51 on Monday. The firm’s 50-day moving average price is $233.63 and its 200-day moving average price is $229.74. 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 stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 47.58, a P/E/G ratio of 1.75 and a beta of 1.92. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC) last announced its quarterly 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. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. On average, equities research analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on GNRC shares. Roth Capital set a $214.00 price target on shares of Generac in a research note on Thursday, July 30th. Canaccord Genuity Group reduced their target price on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Barclays decreased their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald raised their price target on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a report 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 data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average price target of $284.84.

Insider Buying and Selling at Generac

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the sale, the insider directly owned 10,746 shares in the company, valued at $2,292,659.10. This represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 firm’s stock in a transaction that occurred on 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. Insiders have sold a total of 12,236 shares of company stock worth $2,871,273 over the last ninety days. Company 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.