RB Capital Management LLC Acquires New Position in Generac Holdings Inc. $GNRC

RB Capital Management LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,619 shares of the technology company’s stock, valued at approximately $2,524,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Generac during the 2nd quarter worth $1,170,960,000. Invesco Ltd. grew its position in shares of Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. increased its stake in Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after purchasing an additional 662,665 shares during the last quarter. Bank of Montreal Can increased its stake in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Generac during the second quarter worth about $175,942,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

GNRC stock opened at $184.02 on Friday. The company has a market cap of $10.86 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.92. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $226.30 and a two-hundred day moving average price of $230.15. Generac Holdings Inc. has a 12-month low of $134.80 and a 12-month high of $296.44.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $1.65 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Generac Holdings Inc. will post 9.78 EPS for the current year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 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 sale, the insider owned 15,508 shares of the company’s stock, valued at approximately $3,393,615.64. This 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 quarter, insiders have sold 12,236 shares of company stock worth $2,871,273. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays lowered their price target on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. TD Cowen reiterated a “buy” rating on shares of Generac in a report on Monday, July 20th. Citigroup raised their target price on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Cantor Fitzgerald upped their price target on shares of Generac from $325.00 to $333.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.84.

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.