Generac Holdings Inc. $GNRC Shares Bought by Meridian Management Co.

Meridian Management Co. boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,543 shares of the technology company’s stock after buying an additional 2,758 shares during the period. Generac accounts for 1.4% of Meridian Management Co.’s investment portfolio, making the stock its 25th largest position. Meridian Management Co. owned 0.06% of Generac worth $4,947,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,932,913 shares of the technology company’s stock worth $878,053,000 after buying an additional 137,363 shares during the last quarter. Ariel Investments LLC raised its holdings in shares of Generac by 10.1% in the 1st quarter. Ariel Investments LLC now owns 1,615,878 shares of the technology company’s stock valued at $204,651,000 after buying an additional 148,551 shares during the period. Invesco Ltd. raised its holdings in shares of Generac by 25.3% in the 1st quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company’s stock valued at $179,148,000 after buying an additional 285,388 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Generac by 18.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 859,999 shares of the technology company’s stock valued at $108,914,000 after buying an additional 131,460 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Generac by 9.0% during the 1st quarter. Brown Advisory Inc. now owns 812,259 shares of the technology company’s stock worth $102,873,000 after purchasing an additional 67,180 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total transaction of $837,100.00. Following the completion of the transaction, the chief executive officer directly owned 547,966 shares of the company’s stock, valued at approximately $91,740,467.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Generac from $128.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Wall Street Zen downgraded Generac from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. TD Cowen increased their price objective on Generac from $155.00 to $198.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Generac in a report on Thursday. Finally, UBS Group dropped their price objective on Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $191.61.

Generac Stock Up 1.3%

Shares of NYSE GNRC opened at $168.02 on Friday. The stock has a market cap of $9.86 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.64. The company has a quick ratio of 0.88, a current ratio of 2.18 and a debt-to-equity ratio of 0.51. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $203.25. The business has a 50-day moving average price of $179.89 and a 200 day moving average price of $156.31.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.25 earnings per share. Generac has set its FY 2025 guidance at EPS. Equities research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.