Energy Income Partners LLC Buys Shares of 263,559 Generac Holdings Inc. $GNRC

Energy Income Partners LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, HoldingsChannel reports. The firm bought 263,559 shares of the technology company’s stock, valued at approximately $77,173,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new position in shares of Generac during the 2nd quarter worth approximately $83,000. Citizens Financial Group Inc. RI acquired a new position in shares of Generac during the 2nd quarter worth approximately $202,000. MidFirst Bank purchased a new stake in Generac in the 2nd quarter valued at approximately $1,244,000. BlackRock Inc. purchased a new stake in Generac in the 2nd quarter valued at approximately $1,170,960,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Generac during the 2nd quarter valued at $651,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of NYSE:GNRC opened at $211.76 on Wednesday. The company has a market cap of $12.50 billion, a P/E ratio of 48.79, a P/E/G ratio of 1.88 and a beta of 1.92. The business has a fifty day simple moving average of $236.36 and a 200-day simple moving average of $228.93. 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.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Generac Holdings Inc. will post 9.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GNRC. Wells Fargo & Company boosted their price target on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Barclays decreased their price objective on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Stephens reiterated an “overweight” rating and set a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. UBS Group boosted their target price on shares of Generac from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $284.84.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated 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 directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares in the company, valued at $3,393,615.64. This represents a 3.43% 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 sold a total of 12,236 shares of company stock valued at $2,871,273 in the last 90 days. 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.