12,320 Shares in Generac Holdings Inc. $GNRC Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,320 shares of the technology company’s stock, valued at approximately $3,607,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Generac in the 2nd quarter valued at approximately $1,170,960,000. Invesco Ltd. grew its position in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares in the last quarter. Diamant Asset Management Inc. grew its position in Generac by 19,433.0% during the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares in the last quarter. Bank of Montreal Can raised its stake in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the period. Finally, Norges Bank purchased a new stake in shares of Generac in the fourth quarter valued at $68,590,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Down 1.1%

Generac stock opened at $203.66 on Tuesday. 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 1-year low of $134.80 and a 1-year high of $296.44. The firm’s fifty day simple moving average is $232.30 and its 200-day simple moving average is $229.95. The company has a market capitalization of $12.02 billion, a P/E ratio of 46.93, a P/E/G ratio of 1.75 and a beta of 1.92.

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 analysts’ consensus estimates 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 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 in the prior year, the company posted $1.65 earnings per share. Sell-side analysts forecast that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kyle Andrew Raabe sold 586 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares in the company, valued at approximately $2,292,659.10. This represents a 5.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares in the company, valued at approximately $108,071,961.92. This represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,236 shares of company stock valued at $2,871,273 over the last quarter. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Needham & Company LLC raised their target price on Generac from $282.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Stephens reissued an “overweight” rating and set a $290.00 price target on shares of Generac in a research report on Thursday, May 21st. Roth Capital set a $214.00 price objective on Generac in a research note on Thursday, July 30th. Barclays decreased their price objective on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Finally, DA Davidson set a $333.00 target price on Generac in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $284.84.

Generac 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.