Legal & General Group Plc Buys Shares of 191,331 Generac Holdings Inc. $GNRC

Legal & General Group Plc purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 191,331 shares of the technology company’s stock, valued at approximately $56,024,000. Legal & General Group Plc owned 0.32% of Generac at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GNRC. MUFG Securities EMEA plc purchased a new stake in Generac during the 2nd quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new position in Generac in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Generac in the 3rd quarter valued at approximately $26,000. Avalon Trust Co acquired a new position in shares of Generac in the first quarter worth $32,000. Finally, Essential Partners LLC grew its stake in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GNRC. Robert W. Baird set a $305.00 price objective on Generac in a research note on Thursday, July 30th. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. DA Davidson set a $333.00 price target on Generac in a report on Thursday, July 30th. Needham & Company LLC increased their price target on Generac from $282.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Two research 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 company. Based on data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Insider Activity at Generac

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the business’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 completion of the sale, the insider directly owned 10,746 shares of the company’s stock, valued at $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,236 shares of company stock valued at $2,871,273 over the last ninety days. Insiders own 2.40% of the company’s stock.

Generac Stock Down 6.7%

GNRC stock opened at $184.02 on Friday. The stock has a market cap of $10.86 billion, a P/E ratio of 42.40, a PEG ratio of 1.68 and a beta of 1.92. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company’s 50 day moving average is $226.30 and its two-hundred day moving average is $230.15.

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

About Generac

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.