Resona Asset Management Co. Ltd. Has $173,000 Stake in Generac Holdings Inc. $GNRC

Resona Asset Management Co. Ltd. raised its holdings in Generac Holdings Inc. (NYSE:GNRC) by 14.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,361 shares of the technology company’s stock after purchasing an additional 177 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Generac were worth $173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GNRC. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Generac in the first quarter valued at approximately $28,000. Private Trust Co. NA increased its stake in Generac by 42.9% during the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company’s stock worth $38,000 after acquiring an additional 90 shares during the period. Ostrum Asset Management acquired a new position in Generac in the 4th quarter valued at $50,000. New Age Alpha Advisors LLC acquired a new position in Generac in the 1st quarter valued at $54,000. Finally, Covestor Ltd lifted its position in shares of Generac by 16.2% during the 1st quarter. Covestor Ltd now owns 596 shares of the technology company’s stock valued at $75,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GNRC. Wells Fargo & Company raised their price target on Generac from $128.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Stephens reiterated an “overweight” rating and set a $175.00 price objective on shares of Generac in a research note on Tuesday, May 27th. Guggenheim raised shares of Generac from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Tuesday, July 29th. Robert W. Baird dropped their target price on shares of Generac from $171.00 to $127.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Stifel Nicolaus upped their price target on shares of Generac from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer directly owned 562,966 shares in the company, valued at $80,166,358.40. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Generac Trading Down 0.2%

NYSE GNRC opened at $198.50 on Monday. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 1.59 and a beta of 1.68. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a quick ratio of 0.88, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average is $156.45 and its 200 day moving average is $137.17.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $1.35 earnings per share. As a group, sell-side analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.