ING Groep NV Purchases Shares of 2,783 Generac Holdings Inc. (NYSE:GNRC)

ING Groep NV acquired a new position in Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,783 shares of the technology company’s stock, valued at approximately $442,000.

Other institutional investors have also recently modified their holdings of the company. Willis Investment Counsel boosted its stake in Generac by 18.7% in the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after buying an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in Generac in the 1st quarter worth $1,053,000. Versor Investments LP bought a new stake in Generac in the third quarter worth $1,823,000. Finally, Natixis boosted its position in Generac by 716.5% during the first quarter. Natixis now owns 1,135 shares of the technology company’s stock valued at $143,000 after buying an additional 996 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Generac Price Performance

GNRC stock opened at $181.82 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The firm has a 50 day moving average price of $164.01 and a 200-day moving average price of $151.79. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.23 and a beta of 1.37.

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

Insider Buying and Selling

In other 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 value of $794,650.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,738 shares of the company’s stock, 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. Insiders have sold a total of 42,268 shares of company stock worth $7,584,853 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GNRC. The Goldman Sachs Group boosted their target price on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus reissued a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a report on Thursday, August 1st. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company upped their price target on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.21.

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.