Legal & General Group Plc has increased its investment in Generac Holdings Inc. by 18.1% during the second quarter of 2023. According to its latest filing with the Securities and Exchange Commission, the firm now holds 178,833 shares of the energy technology company after acquiring an additional 27,441 shares. As of this filing, Legal & General’s total stake in Generac is valued at approximately $25.6 million.
A number of other institutional investors have also made significant adjustments to their positions in Generac. MassMutual Private Wealth & Trust FSB increased its holdings by 81.1% during the same quarter, now owning 172 shares valued at $25,000 after purchasing an additional 77 shares. Creative Capital Management Investments LLC reported an astonishing 740.7% increase in its stake, bringing its total to 227 shares worth $33,000 after acquiring 200 shares during the period.
Additionally, Colonial Trust Advisors raised its stake by 357.1% in the first quarter, owning 320 shares valued at $41,000, while AdvisorShares Investments LLC entered a new position in the second quarter worth about $44,000. Overall, institutional investors now own approximately 84.04% of Generac’s stock.
Analysts’ Ratings Reflect Mixed Sentiment
Recent analyses regarding Generac’s stock performance have produced varied opinions among investment analysts. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, while Zacks Research downgraded the stock from “hold” to “strong sell” on October 17. Citigroup adjusted its price target from $217.00 to $207.00 and maintained a “neutral” rating. Conversely, Barclays raised its price objective from $188.00 to $197.00, assigning an “equal weight” rating.
In total, thirteen analysts have given Generac a Buy rating, while seven have designated it as a Hold and one has issued a Sell rating. According to data from MarketBeat.com, the average rating stands at “Moderate Buy” with a target price of $191.06.
Generac’s Recent Performance and Outlook
On October 29, 2023, Generac reported its quarterly earnings, revealing an earnings per share (EPS) of $1.83, which fell short of analysts’ expectations of $2.25. The company’s revenue for the quarter reached $1.11 billion, below the consensus estimate of $1.20 billion. This represented a 5.0% decline in revenue compared to the same period last year.
Generac has set its guidance for the fiscal year 2025, anticipating 8 EPS for the current fiscal year. The firm has a current market capitalization of approximately $8.74 billion, with a price-to-earnings (P/E) ratio of 28.36 and a beta of 1.69. The stock has experienced a fifty-two week low of $99.50 and a high of $203.25.
In terms of insider activity, CEO Aaron Jagdfeld sold 5,000 shares on November 3, 2023, at an average price of $166.43, resulting in a total transaction value of approximately $832,150. Following this sale, he retains 542,966 shares valued at around $90.37 million. Over the last ninety days, insiders have sold a total of 15,000 shares, amounting to $2.57 million. Insider ownership currently stands at 2.70%.
Generac Holdings Inc. specializes in designing, manufacturing, and distributing energy technology solutions globally. Its product range includes residential automatic standby generators and various smart home solutions.
