Diamond Hill Capital Management LLC Investment Advisor Makes New $9.08 Million Investment in Generac Holdings Inc. $GNRC

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,003 shares of the technology company’s stock, valued at approximately $9,078,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. Caitong International Asset Management Co. Ltd purchased a new position in Generac during the third quarter valued at $26,000. Avalon Trust Co purchased a new stake in shares of Generac in the first quarter worth $32,000. Essential Partners LLC grew its stake in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Generac in the second quarter worth $25,000. Finally, GHP Investment Advisors Inc. bought a new position in shares of Generac during the first quarter valued at $36,000. Institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In related news, insider Kyle Andrew Raabe sold 586 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the sale, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the sale, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents 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. In the last three months, insiders have sold 12,236 shares of company stock valued at $2,871,273. Corporate insiders own 2.40% of the company’s stock.

Generac Stock Performance

GNRC opened at $221.55 on Tuesday. The company’s 50 day moving average is $237.34 and its 200 day moving average is $228.67. 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 cap of $13.07 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 1.88 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 posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that Generac Holdings Inc. will post 9.72 EPS for the current year.

Analyst Ratings Changes

GNRC has been the subject of several recent analyst reports. Needham & Company LLC lifted their price target on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Citigroup lifted their target price on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average price target of $284.84.

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.