Manhattan West Asset Management LLC Buys New Stake in Generac Holdings Inc. $GNRC

Manhattan West Asset Management LLC bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,770 shares of the technology company’s stock, valued at approximately $1,397,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new position in shares of Generac in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac during the 3rd quarter worth approximately $26,000. Avalon Trust Co purchased a new stake in Generac in the first quarter valued at $32,000. Essential Partners LLC lifted its position in Generac by 57.0% in 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. Finally, MUFG Securities EMEA plc purchased a new position in shares of Generac during the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

GNRC opened at $206.51 on Friday. The stock has a market cap of $12.19 billion, a P/E ratio of 47.58, a P/E/G ratio of 1.76 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $233.63 and its 200 day simple moving average is $229.33. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44.

Generac (NYSE:GNRC) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.Generac’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, equities analysts anticipate that Generac Holdings Inc. will post 9.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 completion of the sale, the insider owned 15,508 shares in the company, valued at $3,393,615.64. This represents 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. Insiders sold a total of 12,236 shares of company stock worth $2,871,273 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird set a $305.00 target price on Generac in a research report on Thursday, July 30th. Cantor Fitzgerald increased their price objective on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Stephens reissued an “overweight” rating and issued a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Argus raised their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC upped their price objective on Generac from $282.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $284.84.

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.