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

Franklin Resources Inc. boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 106.1% during the 3rd quarter, according to its most recent filing with the SEC. 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 quarter.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. grew its position in Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock valued at $27,000 after buying an additional 100 shares during the period. Brooklyn Investment Group purchased a new position in Generac in the 3rd quarter valued at about $31,000. SouthState Corp acquired a new position in shares of Generac during the third quarter valued at approximately $32,000. Blue Trust Inc. lifted its position in shares of Generac by 73.5% in the third quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock valued at $36,000 after acquiring an additional 97 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Generac in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Trading Up 0.3 %

Generac stock traded up $0.42 during trading on Tuesday, hitting $154.70. The company had a trading volume of 328,892 shares, compared to its average volume of 926,727. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The company's 50 day simple moving average is $175.99 and its 200-day simple moving average is $158.15. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. As a group, analysts expect that Generac Holdings Inc. will post 6.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on GNRC shares. Barclays began coverage on Generac in a research note on Wednesday, December 4th. They issued an "equal weight" rating and a $189.00 price objective for the company. Robert W. Baird decreased their price target on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st. Truist Financial upped their price objective on shares of Generac from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. TD Cowen raised their target price on shares of Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Generac currently has an average rating of "Moderate Buy" and a consensus price target of $175.30.

Insider Activity

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

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.