Beacon Investment Advisory Services Inc. Grows Holdings in Generac Holdings Inc. $GNRC

Beacon Investment Advisory Services Inc. grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,032 shares of the technology company’s stock after purchasing an additional 2,777 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Generac were worth $10,551,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GNRC. MUFG Securities EMEA plc bought a new stake in Generac during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac in the 3rd quarter worth about $26,000. Avalon Trust Co purchased a new position in shares of Generac during the first quarter worth approximately $32,000. Essential Partners LLC raised its stake in shares of 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. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Generac during the first quarter valued at approximately $36,000. 84.04% of the stock is currently owned by institutional investors.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, 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 stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider directly owned 15,508 shares of the company’s stock, valued at approximately $3,393,615.64. The trade was a 3.43% 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. Insiders sold 11,650 shares of company stock worth $2,746,250 in the last quarter. 2.40% of the stock is owned by insiders.

Generac Stock Up 0.7%

Shares of NYSE GNRC opened at $212.63 on Friday. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The stock’s fifty day simple moving average is $244.18 and its two-hundred day simple moving average is $226.22. The stock has a market capitalization of $12.55 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.92. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, analysts expect that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James Financial set a $302.00 price objective on Generac in a research note on Friday, May 22nd. Citigroup lifted their target price on Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Barclays lowered their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. JPMorgan Chase & Co. raised 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, UBS Group lifted their price objective on Generac from $335.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

About Generac

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.