Bessemer Group Inc. Sells 4,984 Shares of Generac Holdings Inc. (NYSE:GNRC) (2024)

Posted by Defense World Staff on Jul 29th, 2024

Bessemer Group Inc. Sells 4,984 Shares of Generac Holdings Inc. (NYSE:GNRC) (1)Bessemer Group Inc. reduced its position in Generac Holdings Inc. (NYSE:GNRCFree Report) by 79.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,317 shares of the technology company’s stock after selling 4,984 shares during the quarter. Bessemer Group Inc.’s holdings in Generac were worth $165,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of GNRC. ICA Group Wealth Management LLC bought a new stake in shares of Generac in the 4th quarter valued at $27,000. ORG Partners LLC bought a new stake in shares of Generac in the 4th quarter valued at $38,000. Quarry LP lifted its position in shares of Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after acquiring an additional 202 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Generac by 89.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after acquiring an additional 147 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in shares of Generac during the 1st quarter valued at $73,000. 84.04% of the stock is owned by institutional investors.

Generac Price Performance

GNRC opened at $159.43 on Monday. The firm has a market cap of $9.66 billion, a P/E ratio of 43.92, a PEG ratio of 2.16 and a beta of 1.37. The firm has a 50-day moving average of $144.81 and a 200 day moving average of $131.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $161.80.

Generac (NYSE:GNRCGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.16. The company had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, research analysts expect that Generac Holdings Inc. will post 6.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GNRC. Oppenheimer downgraded shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and boosted their target price for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. OTR Global upgraded shares of Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded shares of Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Generac presently has a consensus rating of “Hold” and a consensus target price of $142.11.

Check Out Our Latest Stock Report on Generac

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 completion of the transaction, the chief executive officer now owns 577,177 shares in the company, valued at $76,989,640.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Generac news, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the transaction, the director now owns 3,512 shares in the company, valued at $493,611.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,785 shares of company stock worth $11,720,411. 2.80% of the stock is owned by company insiders.

Generac Company Profile

(Free Report)

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.

Further Reading

Bessemer Group Inc. Sells 4,984 Shares of Generac Holdings Inc. (NYSE:GNRC) (2)

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Bessemer Group Inc. Sells 4,984 Shares of Generac Holdings Inc. (NYSE:GNRC) (2024)

FAQs

What is Generac stock selling for? ›

$ 157.90
CloseChgChg %
$158.02-1.76-1.10%

Should I sell GNRC? ›

Generac Holdings has a consensus rating of Hold which is based on 4 buy ratings, 7 hold ratings and 1 sell ratings. The average price target for Generac Holdings is $150.44. This is based on 12 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

Is Generac Holdings a good stock to buy? ›

Generac Holdings currently has an average brokerage recommendation (ABR) of 2.15 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 26 brokerage firms.

Why is Generac stock doing so poorly? ›

Shares of Generac Holdings Inc. took a hit Wednesday, after the home-generator maker reported fourth-quarter results that came up short of expectations and provided a downbeat outlook, citing weakness in its industrial and commercial business.

Will GNRC stock recover? ›

According to the 21 analysts' twelve-month price targets for Generac, the average price target is $144.74. The highest price target for GNRC is $177.00, while the lowest price target for GNRC is $78.00. The average price target represents a forecasted downside of -7.02% from the current price of $155.66.

What company did Generac buy? ›

– June 27, 2024 — Generac Power Systems (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced the acquisition of PowerPlay Battery Energy Storage Systems, a division of SunGrid Solutions Inc., a leading engineering, procurement and ...

Is Generac a good investment? ›

Buying a great company with a robust outlook at a cheap price is always a good investment, so let's also take a look at the company's future expectations. Generac Holdings' earnings over the next few years are expected to double, indicating a very optimistic future ahead.

Did Dr buy Generac? ›

The acquisition closed on September 1 . Terms of the deal were not disclosed. DR® Power Equipment, a Generac Power Systems company, is the premier developer and marketer of professional-grade, outdoor power equipment for commercial and residential use.

Who is the owner of GNRC? ›

Dr. Nomal Chandra Borah is the Founder, Chairman cum Managing Director of the Company.

Why is Generac tanking? ›

The shares down almost 15% after it warned it expects sales to fall more than expected this year. Now, it's looking for a decline of 10% to 12% in sales this year. It had forecast a decline of 6% to 10% and all of this seems to be in its residential business, not in its commercial business.

What is the future of Generac? ›

Generac Holdings is forecast to grow earnings and revenue by 22.5% and 8.4% per annum respectively.

Who are the largest shareholders of GNRC? ›

Largest shareholders include Vanguard Group Inc, BlackRock Inc., Fmr Llc, State Street Corp, Ariel Investments, Llc, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Brown Advisory Inc, VFINX - Vanguard 500 Index Fund Investor Shares, NAESX - Vanguard Small-Cap Index Fund Investor Shares, and Geode ...

Is Generac in trouble? ›

Generac Holdings' odds of distress is under 7% at the present time. It has tiny probability of undergoing some form of financial hardship in the near future.

Is Generac a good long-term stock? ›

Buying under-rated businesses is one path to excess returns. For example, long term Generac Holdings Inc. (NYSE:GNRC) shareholders have enjoyed a 97% share price rise over the last half decade, well in excess of the market return of around 79% (not including dividends).

What are the problems with Generac generators? ›

The overwhelming majority of Generac generator failures have to do with an old or damaged battery. Generator batteries should be changed every two years at an absolute minimum. Coolant levels. Low coolant levels will trip a sensor and force the generator into a “no start” state.

What is the target price for Generac? ›

Stock Price Targets
High$200.00
Median$154.00
Low$78.00
Average$149.78
Current Price$159.43

What is the outlook for Generac Holdings? ›

Generac Holdings is forecast to grow earnings and revenue by 21.6% and 8.3% per annum respectively. EPS is expected to grow by 21.4% per annum. Return on equity is forecast to be 16.5% in 3 years.

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