Hsbc Holdings PLC Purchases 27,893 Shares of Generac Holdings Inc. $GNRC

Hsbc Holdings PLC boosted its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 42.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,080 shares of the technology company’s stock after purchasing an additional 27,893 shares during the quarter. Hsbc Holdings PLC’s holdings in Generac were worth $12,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc purchased a new stake in shares of Generac in the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac during the third quarter valued at $26,000. IFP Advisors Inc raised its holdings in shares of Generac by 33.8% in the fourth quarter. IFP Advisors Inc now owns 435 shares of the technology company’s stock valued at $59,000 after acquiring an additional 110 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Generac in the fourth quarter worth about $61,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Generac in the third quarter worth about $67,000. 84.04% of the stock is owned by institutional investors.

Generac Price Performance

GNRC opened at $294.44 on Friday. The firm has a market capitalization of $17.33 billion, a PE ratio of 92.30, a price-to-earnings-growth ratio of 2.66 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The business’s 50-day moving average is $257.80 and its two-hundred day moving average is $209.84. 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, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GNRC shares. Wells Fargo & Company raised their target price on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, TD Cowen boosted their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.65.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider directly owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% 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 own 2.40% of the company’s stock.

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.