BlackRock Fund Advisors recently announced the acquisition of new stake in Generac Holdings Inc (NYSE:GNRC). The institutional investor has increased its shareholding in the Industrials company by 0.55% to 2.95 million shares with purchase of 16186.0 shares. This fresh investment now brings its stake to 4.81% valued currently at $345.72 million. In addition, Ariel Investments LLC raised its holdings by 0.26 million to 2.01 million shares. And Geode Capital Management LLC has lifted its position by 1.84% or 24824.0 shares – to 1.38 million shares.
With over 0.46 million Generac Holdings Inc (GNRC) shares trading Friday and a closing price of $128.81 on the day, the dollar volume was approximately $58.65 million. The shares have shown a negative half year performance of -1.68% and its price on 12/22/23 lost nearly -0.51%. Currently, there are 61.42M common shares owned by the public and among those 60.42M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for GNRC have a consensus price objective of $137.00. The analysts have set the share’s price value over the next 12 months at a high of $175.00 and a low of $78.00. The average price target is 5.98% above its recent price level and a downside to the estimated low will see the stock lose -65.14% over that period. But an upside of 26.39% will see the stock hit the forecast high price target while median target price for the stock is $138.47.
Insiders at the company have transacted a total of 98 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 202,802 shares. Insider sales of the common stock occurred on 48 occasions, with total insider shares sold totaling 139,573 shares.
The top 3 mutual fund holders in Generac Holdings Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 1.95 million shares of the company’s stock, all valued at over $227.96 million. The company bought an additional 2442.0 shares recently to bring their total holdings to about 3.17% of the shares outstanding. Vanguard Small Cap Index Fund bought 7120.0 shares to see its total holdings expand to 1.61 million shares valued at over $188.79 million and representing 2.63% of the shares outstanding. Vanguard 500 Index Fund bought 6601.0 shares to bring its total holdings to over 1.5 million shares at a value of $175.75 million. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Generac Holdings Inc (NYSE: GNRC) opened at $129.23, down -$0.24 from a prior closing price of $129.47. However, the script later moved the day high at 130.50, down -0.51%. The company’s stock has a 5-day price change of 0.47% and 19.92% over the past three months. GNRC shares are trading 27.97% year to date (YTD), with the 12-month market performance up to 39.89% higher. It has a 12-month low price of $79.86 and touched a high of $156.95 over the same period. GNRC has an average intraday trading volume of 1.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.21%, 18.63%, and 11.86% respectively.
Institutional ownership of Generac Holdings Inc (NYSE: GNRC) shares accounts for 88.48% of the company’s 61.42M shares outstanding. Mutual fund holders own 40.69%, while other institutional holders and individual stakeholders account for 48.01% and 3.16% respectively.
It has a market capitalization of $7.91B and a beta (3y monthly) value of 1.43. The stock’s trailing 12-month PE ratio is 50.53, while the earnings-per-share (ttm) stands at $2.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.67% over the week and 2.88% over the month.
Analysts forecast that Generac Holdings Inc (GNRC) will achieve an EPS of $2.07 for the current quarter, $1.4 for the next quarter and $7.24 for 2024. The lowest estimate earnings-per-share for the quarter is $1.7 while analysts give the company a high EPS estimate of $2.33. Comparatively, EPS for the current quarter was $1.78 a year ago. Earnings per share for the fiscal year are expected to decrease by -35.87%, and 36.40% over the next financial year. EPS should shrink at an annualized rate of -1.44% over the next five years, compared to 16.41% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Generac Holdings Inc (GNRC) as a “Strong Buy” at a consensus score of 1.97. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 9 of the 29 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the GNRC, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on November 15, 2023, with the firm’s price target at $76-$110.
