August 28, 2023

ExodusPoint Capital Management LP Reduces Stake in Generac Holdings Inc.

ExodusPoint Capital Management LP, a prominent investment fund, has recently disclosed a significant reduction in its position in Generac Holdings Inc. (NYSE:GNRC). According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, ExodusPoint Capital Management LP lowered its stake by 70.9% during the first quarter of this year.

The filing reveals that ExodusPoint Capital Management LP owned 51,924 shares of Generac’s stock at the end of the reporting period. This figure reflects a decrease of 126,535 shares compared to its previous holding. At the time of reporting, these shares were valued at approximately $5,608,000. While this represents only around 0.08% ownership of Generac for ExodusPoint Capital Management LP, it is still a noteworthy adjustment in their portfolio allocation.

In related news connected to Generac Holdings Inc., CEO Aaron Jagdfeld completed a transaction on July 3rd involving the sale of 5,000 shares of the company’s stock. These shares were sold at an average price of $149.15 per share, resulting in a total transaction value of $745,750. Following this sale, Jagdfeld currently holds direct ownership over 612,690 shares in Generac Holdings Inc., amounting to an estimated value of $91,382,713.50.

A separate transaction took place on July 3rd when EVP Rajendra Kumar Kanuru sold 250 shares at an average price of $149.15 per share. This generated proceeds totaling $37,287.50 for Kanuru. As a result of this sale, Kanuru now directly holds 16,618 shares in the company valued at approximately $2,478,[phrase omitted]574.[phrase omitted]

Moreover, CEO Aaron Jagdfeld also sold an additional 5,000 shares of Generac’s stock on the same day, July 3rd. These shares were sold at an average price of $149.15 per share, amounting to a total transaction value of $745,750. After this sale, Jagdfeld now has direct ownership over 612,690 shares in Generac Holdings Inc., estimated to be worth approximately $91,[phrase omitted]382,[phrase omitted]713.[phrase omitted]

It is important to note that the aforementioned sales were disclosed through legal filings with the Securities and Exchange Commission (SEC). Interested parties can access further details regarding these transactions on the SEC’s official website.

In the past three months alone, insiders have collectively sold 10,250 shares of Generac Holdings Inc.’s stock. These transactions amounted to a total value of $1,[phrase omitted]323,[phrase omitted]638. As it stands, insiders currently hold approximately 2.80% ownership of the company’s stock.

While ExodusPoint Capital Management LP’s reduction in its stake may be viewed as notable given its sizeable asset management presence within the industry, it is crucial to interpret this data within a wider context that considers market conditions and investment strategies. Investors and analysts can draw meaningful insights from this information when evaluating their own investment decisions or seeking a deeper understanding of market trends.

Please exercise caution as investing in stocks involves risks and one should conduct thorough research before making any investment decisions.

Sources:
– Securities and Exchange Commission (SEC)
– Generac Holdings Inc.
– Various news sources

Hedge Funds Show Growing Interest in Generac Holdings Inc. as Tech Company Positions Itself for Growth

Generac Holdings Inc., a leading technology company specializing in power generation and energy storage solutions, has recently seen modifications to its holdings by several hedge funds. This flurry of activity indicates a potential surge of interest in the company’s stock.

One notable event was Vanguard Group Inc.’s decision to increase its position in Generac by 2.0% during the first quarter of this year. With this adjustment, Vanguard now owns an impressive 6,770,488 shares of Generac stock, valued at $2,012,595,000. The additional purchase of 130,854 shares shows Vanguard’s confidence in the tech company’s growth potential.

Similarly, Brown Advisory Inc. lifted its position in Generac by 25.9% during the same period. The firm now holds 1,990,927 shares worth $215,040,000 after acquiring an additional 409,431 shares in the last quarter. This substantial increase reflects Brown Advisory’s optimism about Generac’s prospects within the technology sector.

Ariel Investments LLC also demonstrated its belief in Generac’s future success by raising its position by a staggering 248.2% during the fourth quarter of last year. The investment firm now owns an impressive 1,311,879 shares valued at $132,054,000 after purchasing an additional 935,076 shares in the last quarter.

Geode Capital Management LLC and Morgan Stanley also made noteworthy adjustments to their holdings of Generac. Geode Capital Management raised its holdings by 2%, bringing its total ownership to roughly 1,281,852 shares worth $128,796 million. Morgan Stanley increased its stake by an impressive 32.6% during the fourth quarter and now owns approximately 1,1847721 shares valued at $119259000.

As reported on August 28th , hedge funds and other institutional investors collectively own around 85.93% of Generac Holdings Inc.’s stock. This high degree of institutional ownership reaffirms the company’s appeal to major investors within the financial industry.

Equities research analysts have also weighed in on Generac, providing their perspectives on the company’s performance. Citigroup raised its target price for Generac from $127.00 to $144.00 with a “neutral” rating, while Piper Sandler lowered its price target from $160.00 to $150.00 but maintained an “overweight” rating for the tech company.

Argus upgraded Generac from a “hold” rating to a “buy” rating and set a price target of $155.00, suggesting optimism in the stock’s potential future growth. Similarly, Oppenheimer downgraded the price target for Generac from $145.00 to $130.00, maintaining an “outperform” rating for the company.

JPMorgan Chase & Co., meanwhile, chose to significantly lift their price target on Generac from $169.00 to $189.00 – indicating strong confidence in the stock and investment potential.

Currently, according to data from Bloomberg, Generac holds a consensus rating of “Hold” among analysts, with an average price target of around $143.04.

As of Monday, shares of GNRC opened at $114.94. The business has maintained a 50-day moving average of $131.60 and a two-hundred-day moving average of $119.63 during recent trading periods.

Generac Holdings Inc.’s market cap sits at approximately $7.15 billion with a price-to-earnings ratio of 47.69 and a beta value of 1.24 – which demonstrates moderate sensitivity to market fluctuations compared to other stocks.

The company’s financial performance was reported on August 2nd this year when it posted earnings per share (EPS) of $1.08 for the quarter.This figure fell short of analysts’ consensus estimates of $1.16 by 8 cents. Generac had a return on equity of 14.23%, showcasing its ability to generate profit for shareholders.

With revenue totaling $1,000.00 million during the quarter, a decline of 22.5% compared to the same period last year, Generac recognized the challenges faced during the pandemic and its subsequent economic impacts. However, despite this decrease in revenue, it should be noted that analysts still predict Generac Holdings Inc. will post a respectable EPS of 5.41 for the current fiscal year.

Overall, Generac’s recent adjustments in holdings by hedge funds demonstrate growing attention towards the tech company as major players in the financial industry recognize its potential for future success. Combined with positive analyst ratings and predictions, as well as impressive quarterly financials given the challenging circumstances of recent times, Generac Holdings Inc. appears to be well-positioned for further growth and development within the market.

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