Diamant Asset Management Inc. Acquires 662,665 Shares of Generac Holdings Inc. $GNRC

Diamant Asset Management Inc. lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 19,433.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 666,075 shares of the technology company’s stock after purchasing an additional 662,665 shares during the period. Diamant Asset Management Inc.’s holdings in Generac were worth $130,104,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GNRC. NewEdge Advisors LLC lifted its holdings in Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after buying an additional 142 shares during the period. Woodline Partners LP lifted its stake in shares of Generac by 40.9% in the first 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 lifted its stake in shares of Generac by 27.6% in the second 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 period. Cerity Partners LLC boosted its holdings in Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock valued at $7,239,000 after acquiring an additional 816 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Generac by 8.6% in the second 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 last quarter. Institutional investors own 84.04% of the company’s stock.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction 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 approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. This trade represents a 3.30% 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. Company insiders own 2.40% of the company’s stock.

Generac Price Performance

Shares of GNRC opened at $279.28 on Friday. The firm has a market cap of $16.44 billion, a PE ratio of 87.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.93. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The business’s 50 day moving average price is $259.31 and its two-hundred day moving average price is $210.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. On average, equities analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current year.

Analysts Set New Price Targets

GNRC has been the subject of several analyst reports. TD Cowen raised their price target on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Generac from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Roth Mkm reissued a “neutral” rating and set a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Argus boosted their target price on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Canaccord Genuity Group upped their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $278.65.

Generac 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.