Russell Investments Group Ltd. lifted its stake in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 20.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,076 shares of the technology company’s stock after buying an additional 6,547 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Generac worth $11,418,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Generac by 260.2% in the first quarter. Signaturefd LLC now owns 479 shares of the technology company’s stock worth $142,000 after buying an additional 346 shares during the period. State Street Corp increased its holdings in shares of Generac by 0.8% in the fourth quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock worth $911,966,000 after buying an additional 20,575 shares during the period. Sei Investments Co. grew its stake in shares of Generac by 20.0% in the fourth quarter. Sei Investments Co. now owns 117,678 shares of the technology company’s stock worth $41,368,000 after purchasing an additional 19,576 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Generac by 8.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 93,655 shares of the technology company’s stock worth $32,959,000 after purchasing an additional 7,013 shares during the last quarter. Finally, NEXT Financial Group Inc grew its stake in shares of Generac by 26.7% in the fourth quarter. NEXT Financial Group Inc now owns 4,411 shares of the technology company’s stock worth $1,552,000 after purchasing an additional 929 shares during the last quarter. Hedge funds and other institutional investors own 88.35% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on GNRC shares. KeyCorp cut their target price on Generac from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, July 21st. Wells Fargo & Company initiated coverage on Generac in a research report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 price objective on the stock. TheStreet cut Generac from a “b-” rating to a “c+” rating in a research report on Tuesday, July 12th. Guggenheim cut their price objective on Generac from $561.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. Finally, Roth Capital cut their price objective on Generac from $555.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $424.71.
Generac Price Performance
Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the business posted $2.39 EPS. As a group, research analysts expect that Generac Holdings Inc. will post 11.75 EPS for the current fiscal year.
Insiders Place Their Bets
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $213.81, for a total value of $1,069,050.00. Following the transaction, the chief executive officer now directly owns 615,975 shares of the company’s stock, valued at $131,701,614.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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