Freestone Grove Partners LP Buys Shares of 40,539 Generac Holdings Inc. $GNRC

Freestone Grove Partners LP bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 40,539 shares of the technology company’s stock, valued at approximately $11,870,000. Freestone Grove Partners LP owned 0.07% of Generac at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Generac in the second quarter valued at approximately $1,170,960,000. Invesco Ltd. lifted its stake in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares in the last quarter. State Street Corp lifted its stake in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares in the last quarter. Boston Partners boosted its holdings in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after acquiring an additional 128,439 shares during the period. Finally, Geode Capital Management LLC increased its stake in Generac by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock worth $202,943,000 after purchasing an additional 6,332 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Down 3.9%

Shares of NYSE GNRC opened at $198.52 on Friday. The business has a 50-day moving average of $228.20 and a two-hundred day moving average of $230.48. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 1.76 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 debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS 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 prior year, the business posted $1.65 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the firm’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 approximately $2,292,659.10. The trade was a 5.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock worth $2,871,273 over the last three months. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the topic of several recent research reports. Robert W. Baird set a $305.00 target price on shares of Generac in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. DA Davidson set a $333.00 price objective on Generac in a research note on Thursday, July 30th. Cantor Fitzgerald upped their target price on shares of Generac from $325.00 to $333.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $284.84.

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.