Dakota Wealth Management, a leading investment firm, recently purchased a substantial stake in Generac Holdings Inc., a prominent technology company in the power generation sector. According to a filing with the Securities and Exchange Commission, Dakota Wealth Management acquired 1,913 shares of Generac’s stock during the first quarter of this year. This purchase is valued at approximately $207,000.
Generac, listed on the New York Stock Exchange under the ticker symbol GNRC, announced its recent earnings results on May 3rd. The company’s financial performance exceeded analysts’ expectations, with earnings per share (EPS) of $0.63 for the quarter. This surpassed consensus estimates by an impressive $0.11. Generac also reported a solid return on equity of 19.63% and a net margin of 6.91%. However, compared to the same period last year, the company experienced a decline in revenue by 21.8%.
Despite this decrease in revenue, Generac Holdings Inc. remains optimistic about its future prospects. The company specializes in designing, manufacturing, and selling power generation equipment, energy storage systems, energy management devices and solutions worldwide. Its product portfolio caters to residential, light commercial, and industrial markets.
In the residential sector specifically, Generac offers various solutions such as automatic standby generators powered by air-cooled or liquid-cooled engines. Additionally, their residential storage solution combines batteries with components like inverters and photovoltaic optimizers to provide an efficient energy management system for homeowners.
Moreover, Generac has expanded its product line by offering smart home solutions including thermostats and home monitoring products that promote energy efficiency and sustainability. These offerings align with current market trends towards environmentally friendly technologies.
The company also provides outdoor power equipment such as trimmers and log splitters for landscaping purposes while simultaneously venturing into battery-powered turf care products.
Generac’s commitment to innovation contributes significantly to its success in the power generation industry. The company has managed to maintain robust profitability despite challenging market conditions. Looking ahead, sell-side analysts anticipate that Generac Holdings Inc. will achieve earnings per share of 5.87 for this year.
With Dakota Wealth Management’s recent investment, it is evident that industry experts recognize the promising future of Generac Holdings Inc. This strategic move by Dakota Wealth Management not only exemplifies confidence in the company’s potential but also aligns with its commitment to capitalizing on emerging investment opportunities.
As we witness the ever-increasing demand for reliable and sustainable energy solutions, Generac Holdings Inc. is well-positioned to seize these opportunities and continue its growth trajectory in the power generation sector.
Generac Holdings Inc.
GNRC
Strong Buy
Updated on: 01/07/2023
Generac Holdings Inc Attracts Hedge Funds and Institutional Investors with Strong Position in Power Generation Industry
Generac Holdings Inc, a leading manufacturer of power generation equipment and energy storage systems, has been attracting the attention of various hedge funds and institutional investors. This has resulted in changes to their positions in the company, with many acquiring new positions or raising their stakes.
One such investor is OLD Mission Capital LLC, which recently purchased a new position in Generac during the fourth quarter. The value of this position is approximately $26,000. Similarly, MinichMacGregor Wealth Management LLC acquired a new position in Generac during the same period, valued at $27,000. Glassman Wealth Services also joined the trend by raising its stake in Generac by 568.2% in the fourth quarter, now owning 294 shares valued at $30,000. CoreCap Advisors LLC followed suit by acquiring a new position in Generac during the fourth quarter for $33,000. Finally, IAG Wealth Partners LLC raised its stake in Generac by 98.0% during the same period and now owns 404 shares valued at $41,000. It is worth noting that hedge funds and other institutional investors collectively own an impressive 85.93% of the company’s stock.
On Friday, shares of Generac stock opened at $147.44. The company’s market capitalization stands at $9.17 billion with a price-to-earnings ratio of 37.61 and a price-to-earnings-growth ratio of 2.20. Generac Holdings Inc has a 12-month low of $86.29 and a high of $282.62. Additionally, it has a beta of 1.15 and debt-to-equity ratio of 0.65.
Generac focuses on designing, manufacturing, and selling power generation equipment for residential, light commercial, and industrial markets worldwide. Their product range includes automatic standby generators for residential use as well as air-cooled and liquid-cooled engine generators. Furthermore, they offer residential storage solutions consisting of batteries, inverters, photovoltaic optimizers, and power electronic controls. Generac also provides various smart home solutions such as thermostats, home monitoring products, and water heater controllers. In addition to their residential offerings, Generac manufactures portable and inverter generators for a wider range of applications.
Investment analysts have recently shared their perspectives on Generac. Citigroup reduced the company’s price objective from $140.00 to $127.00. Bank of America downgraded Generac to an “underperform” rating and reduced their price objective from $141.00 to $91.00. On the other hand, Oppenheimer increased its price objective from $137.00 to $145.00 and gave the company an “outperform” rating. Truist Financial also cut their target price on Generac from $145.00 to $120.00.
In recent news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock at an average price of $102.16 on May 1st for a total value of $510,800. Following this transaction, Jagdfeld now holds 622,690 shares in the company valued at approximately $63,614,010.
Overall, Generac Holdings Inc continues to be a subject of interest for hedge funds and institutional investors due to its strong presence in the power generation industry. The company’s diverse product portfolio caters to residential as well as commercial and industrial markets globally, making it a reliable choice for investors seeking exposure in this sector.