Herbst Group LLC Buys 2,700 Shares of Generac Holdings Inc. $GNRC

Herbst Group LLC grew its stake in Generac Holdings Inc. (NYSE:GNRC) by 61.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,100 shares of the technology company’s stock after acquiring an additional 2,700 shares during the quarter. Herbst Group LLC’s holdings in Generac were worth $2,079,000 at the end of the most recent quarter.

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

Generac Stock Performance

GNRC opened at $212.63 on Monday. The company has a market cap of $12.55 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.92. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $244.18 and its 200-day moving average price is $226.68. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The company 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%. Generac’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. As a group, equities analysts anticipate that Generac Holdings Inc. will post 9.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GNRC. Citigroup lifted their price objective on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Barclays decreased their target price on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. DA Davidson set a $333.00 target price on shares of Generac in a research note on Thursday, July 30th. UBS Group lifted their price target on shares of Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company increased their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total transaction of $974,450.00. Following the completion of the sale, the chief executive officer directly owned 554,528 shares in the company, valued at approximately $108,071,961.92. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the sale, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,650 shares of company stock valued at $2,746,250. Corporate insiders own 2.40% of the company’s stock.

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.