17,098 Shares in Generac Holdings Inc. $GNRC Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the 1st quarter, HoldingsChannel.com reports. The fund bought 17,098 shares of the technology company’s stock, valued at approximately $3,340,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GNRC. MUFG Securities EMEA plc purchased a new position in shares of Generac during the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the 3rd quarter valued at $26,000. IFP Advisors Inc grew its holdings in shares of Generac by 33.8% during the 4th quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after purchasing an additional 110 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Generac in the 4th quarter worth $61,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Generac in the 3rd quarter worth $67,000. 84.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Barclays lifted their price objective on Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. Needham & Company LLC restated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Robert W. Baird set a $311.00 price target on Generac in a research report on Thursday, April 30th. Finally, UBS Group lifted their price target on Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $278.65.

Generac Stock Down 5.4%

NYSE GNRC opened at $279.28 on Friday. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The business’s 50-day moving average is $259.31 and its 200 day moving average is $210.33. The stock has a market capitalization of $16.44 billion, a PE ratio of 87.55, a PEG ratio of 2.61 and a beta of 1.93.

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

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.