Geode Capital Management LLC Buys 24,865 Shares of Generac Holdings Inc. (NYSE:GNRC)

Posted by on Jun 8th, 2023

Geode Capital Management LLC increased its stake in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,281,852 shares of the technology company’s stock after purchasing an additional 24,865 shares during the period. Geode Capital Management LLC owned approximately 2.02% of Generac worth $128,796,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. MinichMacGregor Wealth Management LLC bought a new position in Generac in the fourth quarter valued at about $27,000. Exos TFP Holdings LLC bought a new position in Generac in the third quarter valued at about $30,000. Glassman Wealth Services grew its position in Generac by 568.2% in the fourth quarter. Glassman Wealth Services now owns 294 shares of the technology company’s stock valued at $30,000 after acquiring an additional 250 shares during the last quarter. CoreCap Advisors LLC bought a new position in Generac in the fourth quarter valued at about $33,000. Finally, IAG Wealth Partners LLC grew its position in Generac by 98.0% in the fourth quarter. IAG Wealth Partners LLC now owns 404 shares of the technology company’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $102.16, for a total transaction of $510,800.00. Following the completion of the sale, the chief executive officer now owns 622,690 shares in the company, valued at $63,614,010.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 15,000 shares of company stock worth $1,598,800 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group cut their price target on Generac from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, February 16th. StockNews.com raised Generac from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Truist Financial cut their price target on Generac from $145.00 to $120.00 in a research note on Monday, May 1st. Stifel Nicolaus lifted their price target on Generac from $130.00 to $135.00 in a research note on Wednesday, May 17th. Finally, Robert W. Baird lifted their price target on Generac from $119.00 to $136.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Generac presently has an average rating of “Hold” and an average target price of $171.77.

Generac Price Performance

Shares of GNRC opened at $118.16 on Thursday. Generac Holdings Inc. has a 52-week low of $86.29 and a 52-week high of $299.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.82 and a current ratio of 2.40. The business’s 50 day moving average price is $108.69 and its two-hundred day moving average price is $109.48. The firm has a market cap of $7.35 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15.

Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. The firm had revenue of $887.90 million during the quarter, compared to the consensus estimate of $850.07 million. Generac had a return on equity of 19.63% and a net margin of 6.91%. The company’s quarterly revenue was down 21.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 earnings per share. On average, equities analysts anticipate that Generac Holdings Inc. will post 5.98 EPS for the current year.

Generac Company Profile

(Get Rating)

Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.

Featured Stories

Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC – Get Rating).

Institutional Ownership by Quarter for Generac (NYSE:GNRC)

Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.