Franklin Resources Inc. Grows Position in Generac Holdings Inc. (NYSE:GNRC)

Franklin Resources Inc. increased its position in Generac Holdings Inc. (NYSE:GNRC) by 106.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,772 shares of the technology company’s stock after purchasing an additional 14,811 shares during the period. Franklin Resources Inc.’s holdings in Generac were worth $4,998,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp purchased a new stake in Generac in the third quarter worth about $300,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Generac in the 3rd quarter worth approximately $51,000. Morse Asset Management Inc grew its stake in shares of Generac by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock worth $967,000 after buying an additional 145 shares during the last quarter. Diamant Asset Management Inc. increased its position in Generac by 11.7% during the 3rd quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company’s stock valued at $605,000 after buying an additional 400 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Generac during the third quarter valued at $203,000. Institutional investors own 84.04% of the company’s stock.

Generac Trading Down 1.3 %

NYSE GNRC opened at $154.28 on Tuesday. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The firm’s fifty day moving average price is $175.99 and its 200 day moving average price is $158.15.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, sell-side analysts expect that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GNRC has been the subject of several recent analyst reports. Roth Mkm lifted their price target on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird cut their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler lifted their price objective on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,268 shares of company stock worth $7,584,853. Insiders own 2.90% of the company’s stock.

Generac 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.