Generac Holdings Inc. $GNRC Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 10,475.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,490 shares of the technology company’s stock after buying an additional 3,457 shares during the period. Meeder Asset Management Inc.’s holdings in Generac were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new position in Generac during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac during the third quarter worth about $26,000. Avalon Trust Co purchased a new stake in shares of Generac during the first quarter worth about $32,000. GHP Investment Advisors Inc. acquired a new position in shares of Generac during the 1st quarter worth about $36,000. Finally, Root Financial Partners LLC raised its position in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Trading Down 0.8%

Shares of GNRC opened at $213.29 on Tuesday. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The firm has a market capitalization of $12.56 billion, a P/E ratio of 66.86, a P/E/G ratio of 2.01 and a beta of 1.89. The firm has a 50-day moving average price of $260.99 and a 200 day moving average price of $221.26. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Needham & Company LLC reissued a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Roth Capital restated a “neutral” rating and issued a $257.00 target price on shares of Generac in a research report on Thursday, April 30th. Canaccord Genuity Group lifted their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $275.00 price target on Generac in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.18.

Insider Buying and Selling

In other Generac news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% 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 a total of 6,100 shares of company stock valued at $1,651,443 in the last 90 days. Insiders own 2.40% of the company’s stock.

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.