Generac Holdings Inc. $GNRC Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in Generac Holdings Inc. (NYSE:GNRC) by 369.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,532 shares of the technology company’s stock after acquiring an additional 11,438 shares during the period. Fifth Third Bancorp’s holdings in Generac were worth $2,838,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GNRC. NewEdge Advisors LLC lifted its position in shares of Generac by 6.2% during the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after purchasing an additional 1,463 shares in the last quarter. First Trust Advisors LP increased its stake in Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock worth $14,507,000 after buying an additional 21,908 shares during the period. Cerity Partners LLC increased its stake in Generac by 1.6% during the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock worth $7,239,000 after buying an additional 816 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Generac by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after buying an additional 8,213 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group boosted their target price on Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. lifted their price objective on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Argus boosted their price objective on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. Finally, Robert W. Baird set a $311.00 target price on shares of Generac in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $284.18.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares of the company’s stock, valued at $4,046,848. This 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. In the last three months, insiders sold 6,100 shares of company stock worth $1,651,443. Corporate insiders own 2.40% of the company’s stock.

Generac Price Performance

Shares of NYSE GNRC opened at $213.29 on Tuesday. The stock has a market cap of $12.56 billion, a P/E ratio of 66.86, a P/E/G ratio of 2.01 and a beta of 1.89. The stock has a 50 day moving average of $260.99 and a two-hundred day moving average of $221.26. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.

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

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.