Generac Holdings Inc. $GNRC Stock: CenterBook Partners LP Increases Stake

CenterBook Partners LP increased its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 230.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,203 shares of the technology company’s stock after purchasing an additional 16,174 shares during the period. CenterBook Partners LP’s holdings in Generac were worth $4,802,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Generac in the 2nd quarter valued at approximately $1,170,960,000. Bank of America Corp DE bought a new stake in Generac during the 2nd quarter worth approximately $175,942,000. Park Presidio Capital LLC acquired a new stake in Generac during the 2nd quarter worth approximately $158,140,000. Bank of New York Mellon Corp acquired a new stake in Generac during the 2nd quarter worth approximately $90,872,000. Finally, Amundi raised its holdings in Generac by 174.9% during the 1st quarter. Amundi now owns 433,016 shares of the technology company’s stock worth $84,581,000 after buying an additional 275,506 shares during the period. Institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $182.21, for a total transaction of $911,050.00. Following the completion of the transaction, the chief executive officer directly owned 549,528 shares of the company’s stock, valued at $100,129,496.88. This trade represents a 0.90% decrease in their position. 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 Taffe sold 400 shares of Generac stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total transaction of $75,480.00. Following the completion of the sale, the insider owned 11,276 shares in the company, valued at $2,127,781.20. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,606 shares of company stock valued at $2,491,310 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Generac Stock Up 2.2%

NYSE:GNRC opened at $176.13 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.97. The company has a market cap of $10.39 billion, a PE ratio of 34.88, a PEG ratio of 1.50 and a beta of 1.86. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The stock has a 50-day simple moving average of $197.79 and a 200 day simple moving average of $218.22.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. Generac’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 EPS. On average, sell-side analysts expect that Generac Holdings Inc. will post 9.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Generac in a research note on Friday, September 25th. Wells Fargo & Company set a $280.00 price objective on shares of Generac in a research report on Thursday, September 17th. KeyCorp restated an “overweight” rating on shares of Generac in a report on Monday, October 26th. Robert W. Baird set a $287.00 price objective on shares of Generac in a report on Thursday, October 29th. Finally, HSBC cut shares of Generac to a “hold” rating and set a $333.00 price objective on the stock. in a research report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $290.41.

Generac Company Profile

Generac Holdings Inc designs and manufactures backup power generation equipment and energy technology solutions. Its products include home standby and portable generators, as well as power systems for commercial, industrial, and other applications.

The company also offers energy storage and management products, solar-related solutions, and services that help customers monitor and manage power use. Generac serves residential, commercial, and industrial customers, with a presence in North America and other markets around the world.

Founded in 1959, Generac has expanded from its generator-manufacturing roots into a broader provider of backup power and energy management technologies.