ING Groep NV Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

ING Groep NV purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,783 shares of the technology company’s stock, valued at approximately $442,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GNRC. Duncker Streett & Co. Inc. lifted its holdings in Generac by 2.4% in the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after acquiring an additional 68 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of Generac by 0.3% in the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock worth $2,981,000 after buying an additional 75 shares during the last quarter. EntryPoint Capital LLC grew its position in Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Mather Group LLC. increased its holdings in Generac by 6.5% during the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock valued at $243,000 after buying an additional 93 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Generac by 2.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,427 shares of the technology company’s stock worth $558,000 after acquiring an additional 94 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Trading Down 2.4 %

Shares of GNRC stock opened at $181.82 on Monday. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The stock’s 50-day moving average price is $164.01 and its 200-day moving average price is $151.79. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts predict that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GNRC. Piper Sandler upped their price objective on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. TD Cowen raised their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Roth Mkm lifted their price target on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.21.

About Generac

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.