J. Goldman & Co LP Buys Shares of 62,859 Generac Holdings Inc. $GNRC

J. Goldman & Co LP purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 62,859 shares of the technology company’s stock, valued at approximately $18,406,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. boosted its stake in Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 50 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 54 shares in the last quarter. Gen Wealth Partners Inc boosted its position in Generac by 8.7% during the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock worth $92,000 after acquiring an additional 54 shares during the last quarter. Meridian Financial Partners LLC grew its stake in Generac by 0.6% during the 4th quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 61 shares in the last quarter. Finally, Essential Partners LLC raised its holdings in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Trading Down 0.6%

Shares of Generac stock opened at $202.27 on Wednesday. The stock has a 50 day moving average of $231.03 and a 200 day moving average of $230.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 1.73 and a beta of 1.92. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, research analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Insider Activity at Generac

In other Generac news, insider Kyle Andrew Raabe sold 586 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the transaction, the insider owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares of the company’s stock, valued at approximately $108,071,961.92. This trade represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 12,236 shares of company stock worth $2,871,273. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GNRC shares. Robert W. Baird set a $305.00 target price on shares of Generac in a research note on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Wells Fargo & Company increased their price target on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Stephens reissued an “overweight” rating and set a $290.00 price objective on shares of Generac in a research note on Thursday, May 21st. Finally, Barclays dropped their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.