Redwood Grove Capital LLC Buys New Stake in Generac Holdings Inc. $GNRC

Redwood Grove Capital LLC bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 42,280 shares of the technology company’s stock, valued at approximately $12,380,000. Generac makes up 3.1% of Redwood Grove Capital LLC’s portfolio, making the stock its 17th largest position.

A number of other institutional investors also recently added to or reduced their stakes in GNRC. Callan Family Office LLC bought a new stake in shares of Generac during the 2nd quarter worth about $3,033,000. Hsbc Holdings PLC lifted its stake in shares of Generac by 42.8% in the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock worth $12,711,000 after acquiring an additional 27,893 shares during the period. Patton Fund Management Inc. bought a new position in shares of Generac in the first quarter valued at approximately $3,797,000. Needham Investment Management LLC increased its stake in shares of Generac by 213.6% during the fourth quarter. Needham Investment Management LLC now owns 34,500 shares of the technology company’s stock valued at $4,705,000 after acquiring an additional 23,500 shares during the period. Finally, BOK Financial Private Wealth Inc. acquired a new position in shares of Generac during the fourth quarter valued at approximately $699,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $202.27 on Wednesday. The stock’s 50-day moving average price is $231.03 and its two-hundred day moving average price is $230.13. The company has a market cap of $11.94 billion, a PE ratio of 46.61, a PEG ratio of 1.73 and a beta of 1.92. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year 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.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. Generac’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Generac from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. DA Davidson set a $333.00 price target on Generac in a research report on Thursday, July 30th. Citigroup boosted their price objective on Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Finally, Raymond James Financial set a $302.00 target price on Generac in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $284.84.

Insiders Place Their Bets

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares in the company, valued at $2,292,659.10. This represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the transaction, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. This 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. Insiders sold a total of 12,236 shares of company stock worth $2,871,273 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

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.