OP Asset Management Ltd Makes New Investment in Generac Holdings Inc. $GNRC

OP Asset Management Ltd bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to its most recent filing with the SEC. The fund bought 17,098 shares of the technology company’s stock, valued at approximately $3,340,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. increased its stake in shares of Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 50 shares during the last quarter. Gen Wealth Partners Inc grew its holdings in Generac by 8.7% during 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 increased its position 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 buying an additional 61 shares during the last quarter. Argent Trust Co increased its position in Generac by 2.3% in the third quarter. Argent Trust Co now owns 3,272 shares of the technology company’s stock worth $548,000 after buying an additional 73 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Generac by 2.7% in the third quarter. NewEdge Advisors LLC now owns 2,749 shares of the technology company’s stock valued at $460,000 after buying an additional 73 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Trading Down 5.4%

Shares of GNRC stock opened at $279.28 on Friday. The company has a market capitalization of $16.44 billion, a PE ratio of 87.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The business’s fifty day moving average is $259.31 and its 200 day moving average is $210.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Argus increased their price target on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Canaccord Genuity Group increased their target price on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Bank of America reduced their target price on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Needham & Company LLC restated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.65.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

About Generac

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.