Van ECK Associates Corp Increases Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Aug 5th, 2023

Van ECK Associates Corp increased its holdings in Generac Holdings Inc. (NYSE:GNRC – Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,892 shares of the technology company’s stock after acquiring an additional 301 shares during the quarter. Van ECK Associates Corp’s holdings in Generac were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. Brown Advisory Inc. purchased a new stake in Generac in the fourth quarter worth $159,193,000. Ariel Investments LLC raised its holdings in Generac by 248.2% in the fourth quarter. Ariel Investments LLC now owns 1,311,879 shares of the technology company’s stock worth $132,054,000 after purchasing an additional 935,076 shares in the last quarter. Two Sigma Investments LP bought a new position in Generac in the fourth quarter worth $87,903,000. Renaissance Technologies LLC bought a new position in Generac in the fourth quarter worth $80,790,000. Finally, Norges Bank bought a new position in Generac in the fourth quarter worth $59,121,000. Hedge funds and other institutional investors own 85.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GNRC shares. Canaccord Genuity Group decreased their price objective on Generac from $175.00 to $140.00 and set a “buy” rating for the company in a report on Thursday. Argus upgraded Generac from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Tuesday, July 11th. Piper Sandler raised their price target on Generac from $155.00 to $160.00 in a report on Tuesday, July 18th. Janney Montgomery Scott upgraded Generac from a “neutral” rating to a “buy” rating in a report on Friday. Finally, Oppenheimer reduced their price target on Generac from $145.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Generac has an average rating of “Hold” and a consensus target price of $143.48.

Generac Trading Up 2.9 %

Shares of NYSE:GNRC opened at $113.95 on Friday. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.99 and a beta of 1.24. 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 stock’s 50-day simple moving average is $133.15 and its two-hundred day simple moving average is $120.17. Generac Holdings Inc. has a 52-week low of $86.29 and a 52-week high of $281.50.

Generac (NYSE:GNRC – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.08). Generac had a net margin of 4.64% and a return on equity of 14.41%. The business had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $979.51 million. During the same period last year, the business posted $2.99 EPS. The firm’s revenue for the quarter was down 22.5% compared to the same quarter last year. Analysts expect that Generac Holdings Inc. will post 5.83 EPS for the current year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $745,750.00. Following the transaction, the chief executive officer now owns 612,690 shares of the company’s stock, valued at approximately $91,382,713.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $745,750.00. Following the transaction, the chief executive officer now owns 612,690 shares of the company’s stock, valued at approximately $91,382,713.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total value of $37,287.50. Following the transaction, the executive vice president now owns 16,618 shares of the company’s stock, valued at approximately $2,478,574.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,250 shares of company stock valued at $1,323,638. 2.80% of the stock is currently owned by insiders.

Generac Profile

(Free Report)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.