Nissay Asset Management Corp Japan Boosts Position in Generac Holdings Inc. $GNRC

Nissay Asset Management Corp Japan boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 91.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,309 shares of the technology company’s stock after purchasing an additional 7,798 shares during the period. Nissay Asset Management Corp Japan’s holdings in Generac were worth $4,775,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GNRC. Nicollet Investment Management Inc. increased its position in shares of Generac by 0.7% during the fourth quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after acquiring an additional 50 shares during the period. Root Financial Partners LLC boosted its holdings in shares of 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 period. Gen Wealth Partners Inc boosted its holdings in shares of Generac by 8.7% in the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock valued at $92,000 after purchasing an additional 54 shares during the period. Meridian Financial Partners LLC grew its stake in Generac by 0.6% in the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 61 shares in the last quarter. Finally, Essential Partners LLC grew its stake in Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Performance

Shares of NYSE:GNRC opened at $184.02 on Monday. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 42.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.92. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week 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. The firm has a 50 day moving average of $226.30 and a 200 day moving average of $230.46.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share 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 analyst estimates 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 quarter in the prior year, the business earned $1.65 earnings per share. On average, sell-side analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Insider Transactions at Generac

In related news, insider Kyle Andrew Raabe sold 586 shares of the company’s stock in a transaction on 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 directly owned 10,746 shares in the company, valued at $2,292,659.10. This represents a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s 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 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 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. In the last three months, insiders sold 7,236 shares of company stock valued at $1,510,373. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of research analyst reports. Wall Street Zen raised Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group increased their price target on Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Zacks Research upgraded Generac from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Stephens restated an “overweight” rating and set a $290.00 price target on shares of Generac in a research note on Thursday, May 21st. Finally, Canaccord Genuity Group decreased their price objective on Generac from $325.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.84.

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.