Empowered Funds LLC Invests $14.47 Million in Generac Holdings Inc. $GNRC

Empowered Funds LLC purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the second quarter, Holdings Channel reports. The fund purchased 49,433 shares of the technology company’s stock, valued at approximately $14,474,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Generac during the 2nd quarter valued at $1,170,960,000. Invesco Ltd. grew its holdings in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. increased its position in shares of Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after acquiring an additional 662,665 shares during the period. Bank of Montreal Can increased its position in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after acquiring an additional 639,551 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Generac during the second quarter valued at about $175,942,000. Institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Generac in a research report on Monday, July 20th. Roth Capital set a $214.00 target price on Generac in a research note on Thursday, July 30th. Wall Street Zen upgraded Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Stephens reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Generac in a research note on Thursday, May 21st. Finally, Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Two equities 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Insider Buying and Selling

In other news, insider Kyle Andrew Raabe sold 586 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $213.35, for a total value of $125,023.10. Following the transaction, the insider directly owned 10,746 shares in the company, valued at $2,292,659.10. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. The trade was a 3.43% 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. Over the last quarter, insiders have sold 12,236 shares of company stock worth $2,871,273. 2.40% of the stock is owned by insiders.

Generac Stock Performance

Generac stock opened at $184.02 on Friday. The stock’s 50 day moving average is $226.30 and its 200 day moving average is $230.15. The company has a market capitalization of $10.86 billion, a P/E ratio of 42.40, a PEG ratio of 1.68 and a beta of 1.92. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43.

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, topping the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, equities research analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

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.