Atreides Management LP Takes $24.92 Million Position in Generac Holdings Inc. $GNRC

Atreides Management LP bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 182,765 shares of the technology company’s stock, valued at approximately $24,924,000. Atreides Management LP owned 0.31% of Generac as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GNRC. NewEdge Advisors LLC boosted its holdings in Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after buying an additional 142 shares during the period. Woodline Partners LP boosted its holdings in Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after buying an additional 1,463 shares during the period. First Trust Advisors LP boosted its holdings in Generac by 27.6% in the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after buying an additional 21,908 shares during the period. Cerity Partners LLC boosted its holdings in Generac by 1.6% in the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after buying an additional 816 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Generac by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after buying an additional 8,213 shares during the period. 84.04% of the stock is owned by institutional investors.

Generac Stock Performance

NYSE GNRC opened at $267.79 on Thursday. Generac Holdings Inc. has a 1 year low of $124.16 and a 1 year high of $294.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The stock has a market capitalization of $15.76 billion, a PE ratio of 83.95, a P/E/G ratio of 2.49 and a beta of 1.93. The company’s 50 day simple moving average is $248.15 and its two-hundred day simple moving average is $204.45.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GNRC shares. Stephens reaffirmed an “overweight” rating and issued a $290.00 price objective on shares of Generac in a report on Thursday, May 21st. Robert W. Baird set a $311.00 price objective on shares of Generac in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. UBS Group raised their price objective on shares of Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $278.65.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the sale, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% 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. Corporate insiders own 2.40% of the company’s stock.

Generac Company 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.