Kelly Lawrence W & Associates Inc. CA Invests $17.97 Million in Generac Holdings Inc. $GNRC

Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the second quarter, Holdings Channel reports. The fund bought 61,376 shares of the technology company’s stock, valued at approximately $17,972,000. Generac makes up approximately 3.8% of Kelly Lawrence W & Associates Inc. CA’s portfolio, making the stock its 6th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. N.E.W. Advisory Services LLC acquired a new position in Generac during the second quarter worth $25,000. MUFG Securities EMEA plc purchased a new position in Generac during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac in the third quarter valued at about $26,000. Avalon Trust Co acquired a new stake in shares of Generac in the first quarter valued at about $32,000. Finally, Essential Partners LLC increased its stake in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of NYSE GNRC opened at $203.66 on Tuesday. The firm has a 50-day simple moving average of $232.30 and a 200-day simple moving average of $229.95. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 1.75 and a beta of 1.92. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business posted $1.65 earnings per share. Generac’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Generac Holdings Inc. will post 9.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GNRC. Wells Fargo & Company upped their price target on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Raymond James Financial set a $302.00 price objective on Generac in a report on Friday, May 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Barclays reduced their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Finally, Argus lifted their price target on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Insiders Place Their Bets

In other news, insider Kyle Andrew Raabe sold 586 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $213.35, for a total transaction of $125,023.10. Following the transaction, the insider directly owned 10,746 shares in the company, valued at $2,292,659.10. The trade was a 5.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,236 shares of company stock valued at $2,871,273 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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.