IPG Investment Advisors LLC Decreases Stake in Generac Holdings Inc. $GNRC

by · The Markets Daily

IPG Investment Advisors LLC reduced its position in Generac Holdings Inc. (NYSE:GNRC – Free Report) by 59.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,802 shares of the technology company’s stock after selling 11,276 shares during the period. IPG Investment Advisors LLC’s holdings in Generac were worth $2,285,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC purchased a new position in Generac in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac during the third quarter worth $26,000. Avalon Trust Co bought a new position in shares of Generac in the first quarter worth $32,000. Essential Partners LLC boosted its holdings in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the period. Finally, Continuum Advisory LLC purchased a new position in shares of Generac in the second quarter valued at $51,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the completion of the transaction, the chief executive officer owned 554,528 shares of the company’s stock, valued at $108,071,961.92. This represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 586 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider directly owned 10,746 shares in the company, valued at approximately $2,292,659.10. The trade was a 5.17% 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 have sold a total of 12,086 shares of company stock valued at $2,347,160 over the last three months. 2.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on GNRC shares. Zacks Research raised Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Cantor Fitzgerald upped their price target on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Robert W. Baird set a $305.00 price target on shares of Generac in a report on Thursday, July 30th. Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, Stephens reiterated an “overweight” rating and issued a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $284.84.

Check Out Our Latest Analysis on Generac

Generac Price Performance

Shares of NYSE:GNRC opened at $186.45 on Thursday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.00 billion, a PE ratio of 42.96, a PEG ratio of 1.62 and a beta of 1.91. The company’s fifty day moving average is $210.46 and its 200 day moving average is $228.58. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Generac Profile

(Free Report)

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.

See Also

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