AIGH Capital Management LLC Makes New Investment in Generac Holdings Inc. $GNRC

AIGH Capital Management LLC purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 90,000 shares of the technology company’s stock, valued at approximately $17,580,000. Generac comprises approximately 2.4% of AIGH Capital Management LLC’s portfolio, making the stock its 9th biggest position. AIGH Capital Management LLC owned 0.15% of Generac as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Resona Asset Management Co. Ltd. grew its position in Generac by 30.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,971 shares of the technology company’s stock worth $366,000 after buying an additional 461 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Generac in the 1st quarter worth $1,172,000. Swedbank AB acquired a new stake in shares of Generac during the first quarter worth $7,582,000. Integrated Advisors Network LLC lifted its holdings in shares of Generac by 193.9% during the first quarter. Integrated Advisors Network LLC now owns 6,887 shares of the technology company’s stock valued at $1,345,000 after purchasing an additional 4,544 shares during the last quarter. Finally, Hodges Capital Management Inc. boosted its position in shares of Generac by 7.7% in the 1st quarter. Hodges Capital Management Inc. now owns 2,807 shares of the technology company’s stock valued at $548,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Up 0.5%

GNRC stock opened at $236.89 on Thursday. The company has a 50 day moving average of $266.50 and a two-hundred day moving average of $216.51. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 74.26, a PEG ratio of 2.21 and a beta of 1.89. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Generac’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,100 shares of company stock valued at $1,651,443 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GNRC. Bank of America cut their price objective on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. JPMorgan Chase & Co. raised their price objective on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Argus boosted their target price on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Canaccord Genuity Group raised their target price on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $284.18.

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.