Nissay Asset Management Corp Japan Buys 7,798 Shares of Generac Holdings Inc. $GNRC

Nissay Asset Management Corp Japan boosted its stake in Generac Holdings Inc. (NYSE:GNRC) by 91.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,309 shares of the technology company’s stock after purchasing an additional 7,798 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Generac were worth $4,775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in shares of Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after buying an additional 142 shares in the last quarter. Woodline Partners LP increased its stake in Generac by 40.9% in 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 last quarter. First Trust Advisors LP increased its stake in Generac by 27.6% in 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 raised 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 in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Generac by 8.6% during 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 last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 550 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was 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. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the transaction, the chief executive officer directly owned 554,528 shares in the company, valued at approximately $108,071,961.92. This represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 7,236 shares of company stock worth $1,510,373. Insiders own 2.40% of the company’s stock.

Generac Stock Performance

NYSE:GNRC opened at $184.02 on Monday. The firm has a market capitalization of $10.86 billion, a PE ratio of 42.40, a PEG ratio of 1.57 and a beta of 1.92. The stock’s fifty day moving average is $226.30 and its 200 day moving average is $230.46. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04.

Generac (NYSE:GNRC) last posted 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. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. Generac’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Generac Holdings Inc. will post 9.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GNRC shares. Needham & Company LLC raised their target price on shares of Generac from $282.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Citigroup increased their price objective on shares of Generac from $263.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Raymond James Financial set a $302.00 price objective on shares of Generac in a research note on Friday, May 22nd. DA Davidson set a $333.00 target price on shares of Generac in a report on Thursday, July 30th. Finally, Barclays decreased their target price on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Two investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

About Generac

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.