WealthPLAN Partners LLC Acquires Shares of 552 Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Aug 21st, 2023

WealthPLAN Partners LLC purchased a new stake in Generac Holdings Inc. (NYSE:GNRC – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 552 shares of the technology company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GNRC. Fairfield Bush & CO. increased its stake in shares of Generac by 83.2% in the 1st quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock valued at $2,111,000 after purchasing an additional 3,225 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Generac by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock valued at $2,509,000 after purchasing an additional 523 shares during the last quarter. Prudential PLC bought a new position in shares of Generac in the 1st quarter valued at $441,000. National Pension Service increased its stake in shares of Generac by 12.8% in the 1st quarter. National Pension Service now owns 98,555 shares of the technology company’s stock valued at $29,296,000 after purchasing an additional 11,158 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock valued at $2,012,595,000 after purchasing an additional 130,854 shares during the last quarter. Institutional investors own 85.93% of the company’s stock.

Generac Stock Up 2.6 %

Shares of NYSE:GNRC opened at $113.35 on Monday. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 47.03, a P/E/G ratio of 2.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.43 and a quick ratio of 0.89. The business’s 50-day moving average is $132.18 and its 200-day moving average is $119.93. Generac Holdings Inc. has a 1 year low of $86.29 and a 1 year high of $266.31.

Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.08). The business had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $979.51 million. Generac had a net margin of 4.64% and a return on equity of 14.23%. The firm’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.99 earnings per share. Equities research analysts predict that Generac Holdings Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on GNRC. Argus upgraded Generac from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Tuesday, July 11th. Janney Montgomery Scott upgraded Generac from a “neutral” rating to a “buy” rating in a research report on Friday, August 4th. CL King began coverage on Generac in a research report on Monday, July 24th. They set a “buy” rating and a $178.00 price objective on the stock. StockNews.com began coverage on Generac in a research report on Thursday. They set a “hold” rating on the stock. Finally, Stifel Nicolaus boosted their price objective on Generac from $130.00 to $135.00 in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $143.04.

Get Our Latest Research Report on GNRC

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’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 directly owns 612,690 shares of the company’s stock, valued at approximately $91,382,713.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Rajendra Kumar Kanuru sold 250 shares of the company’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 $37,287.50. Following the transaction, the executive vice president now directly owns 16,618 shares of the company’s stock, valued at approximately $2,478,574.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’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 value of $745,750.00. Following the transaction, the chief executive officer now directly owns 612,690 shares in the company, valued at $91,382,713.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,250 shares of company stock valued at $1,323,638. 2.80% of the stock is owned by company 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.