New England Research & Management Inc. Acquires New Shares in Generac Holdings Inc. $GNRC

New England Research & Management Inc. bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,099 shares of the technology company’s stock, valued at approximately $641,000.

A number of other institutional investors and hedge funds have also modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new position in shares of Generac during the second quarter valued at $25,000. Avalon Trust Co bought a new stake in Generac in the 1st quarter worth about $32,000. Essential Partners LLC raised its position in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Generac in the 1st quarter worth about $36,000. Finally, Root Financial Partners LLC lifted its stake in Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 54 shares during the period. Institutional investors own 84.04% of the company’s stock.

Insider Activity

In other news, insider Norman Taffe sold 150 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the sale, the insider directly owned 10,976 shares in the company, valued at $2,414,720. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total value of $1,030,000.00. Following the completion of the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at approximately $112,172,768. This represents a 0.91% 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 sold a total of 18,442 shares of company stock valued at $3,656,537 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Generac Stock Performance

NYSE GNRC traded down $6.05 during trading hours on Friday, hitting $192.35. 999,810 shares of the company’s stock traded hands, compared to its average volume of 1,233,263. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The firm has a market capitalization of $11.35 billion, a P/E ratio of 44.32, a P/E/G ratio of 1.70 and a beta of 1.91. 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 business’s fifty day moving average price is $202.50 and its two-hundred day moving average price is $226.83.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. Equities research analysts predict that Generac Holdings Inc. will post 9.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GNRC shares. Barclays dropped their price target on shares of Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Roth Capital boosted their price objective on shares of Generac from $214.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Robert W. Baird set a $305.00 price objective on shares of Generac in a report on Thursday, July 30th. Piper Sandler began coverage on shares of Generac in a research report on Thursday, October 8th. They set an “overweight” rating and a $303.00 price objective on the stock. Finally, Canaccord Genuity Group raised their target price on shares of Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $290.55.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.