HBK Sorce Advisory LLC Acquires 640 Shares of Generac Holdings Inc. (NYSE:GNRC)

HBK Sorce Advisory LLC raised its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 31.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,705 shares of the technology company’s stock after buying an additional 640 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Generac were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital World Investors grew its stake in Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after acquiring an additional 25,646 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Generac by 23.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock valued at $78,854,000 after purchasing an additional 115,728 shares in the last quarter. Norges Bank bought a new stake in shares of Generac in the fourth quarter worth about $67,253,000. Ninety One UK Ltd lifted its position in shares of Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after buying an additional 3,849 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in Generac by 1.0% during the first quarter. Burgundy Asset Management Ltd. now owns 415,583 shares of the technology company’s stock valued at $52,422,000 after buying an additional 3,975 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Shares of GNRC stock opened at $140.53 on Friday. The company has a market capitalization of $8.45 billion, a P/E ratio of 38.71, a P/E/G ratio of 1.83 and a beta of 1.38. The company’s 50-day simple moving average is $149.59 and its two-hundred day simple moving average is $138.65. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $169.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $1.08 EPS. Generac’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts anticipate that Generac Holdings Inc. will post 6.52 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on GNRC shares. Wells Fargo & Company upped their price objective on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Canaccord Genuity Group upped their price target on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. TD Cowen upped their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $154.71.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.