Ferguson Wellman Capital Management Inc. Buys New Holdings in Generac Holdings Inc. $GNRC

Ferguson Wellman Capital Management Inc. purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,500 shares of the technology company’s stock, valued at approximately $1,025,000.

A number of other institutional investors have also recently bought and sold shares of GNRC. NewEdge Advisors LLC raised its stake in Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after buying an additional 142 shares during the period. Woodline Partners LP boosted its stake in shares of Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after acquiring an additional 1,463 shares during the period. First Trust Advisors LP increased its holdings in shares of 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 acquiring an additional 21,908 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of 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 acquiring an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Generac by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock valued at $14,929,000 after acquiring an additional 8,213 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insider Transactions at Generac

In other news, insider Kyle Andrew Raabe sold 586 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the sale, the insider owned 10,746 shares of the company’s stock, valued at approximately $2,292,659.10. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the transaction, the insider owned 15,508 shares in the company, valued at $3,393,615.64. 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. Over the last 90 days, insiders sold 12,236 shares of company stock valued at $2,871,273. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GNRC has been the subject of several research reports. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Cantor Fitzgerald upped their price objective on shares of Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a research report on Wednesday, June 3rd. Canaccord Genuity Group cut their target price on shares of Generac from $325.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Generac in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Generac Stock Performance

NYSE:GNRC opened at $184.02 on Friday. The stock has a market cap of $10.86 billion, a P/E ratio of 42.40, a PEG ratio of 1.57 and a beta of 1.92. The stock has a 50 day simple moving average of $226.30 and a 200 day simple moving average of $230.15. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Generac Company 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.