Woodstock Corp raised its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,302 shares of the technology company’s stock after purchasing an additional 910 shares during the period. Woodstock Corp’s holdings in Generac were worth $2,282,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPLAN Partners LLC bought a new stake in Generac in the first quarter worth $60,000. Exchange Traded Concepts LLC bought a new stake in Generac in the first quarter worth about $44,000. Arrow Investment Advisors LLC bought a new stake in Generac in the fourth quarter worth about $207,000. Benjamin F. Edwards & Company Inc. lifted its stake in Generac by 24.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 10,551 shares of the technology company’s stock worth $1,140,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its position in shares of Generac by 30.6% during the first quarter. Desjardins Global Asset Management Inc. now owns 2,170 shares of the technology company’s stock worth $235,000 after purchasing an additional 508 shares during the last quarter. 87.59% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GNRC has been the subject of several recent research reports. Truist Financial upgraded Generac from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Citigroup raised their target price on Generac from $127.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 19th. Janney Montgomery Scott raised Generac from a “neutral” rating to a “buy” rating in a report on Friday, August 4th. Oppenheimer cut their price objective on shares of Generac from $145.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, Piper Sandler dropped their target price on Generac from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $143.04.
Generac Stock Performance
Shares of GNRC traded down $1.57 during midday trading on Friday, reaching $110.35. 160,978 shares of the stock were exchanged, compared to its average volume of 1,343,203. The business’s 50-day moving average price is $125.89 and its 200 day moving average price is $119.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.43 and a quick ratio of 0.89. Generac Holdings Inc. has a twelve month low of $86.29 and a twelve month high of $203.71. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 46.44, a PEG ratio of 2.06 and a beta of 1.28.
Generac (NYSE:GNRC – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The technology company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.08). The business had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $979.51 million. Generac had a net margin of 4.64% and a return on equity of 14.23%. The business’s revenue was down 22.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.99 earnings per share. On average, sell-side analysts expect that Generac Holdings Inc. will post 5.41 EPS for the current fiscal year.
Insider Transactions at Generac
In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $149.15, for a total transaction of $37,287.50. Following the completion of the transaction, the executive vice president now directly owns 16,618 shares of the company’s stock, valued at approximately $2,478,574.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $120.23, for a total transaction of $601,150.00. Following the sale, the chief executive officer now owns 602,690 shares in the company, valued at $72,461,418.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 250 shares of Generac stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $149.15, for a total transaction of $37,287.50. Following the completion of the transaction, the executive vice president now owns 16,618 shares in the company, valued at approximately $2,478,574.70. The disclosure for this sale can be found here. Insiders have sold a total of 10,500 shares of company stock worth $1,414,245 over the last ninety days. 2.80% of the stock is currently owned by company insiders.
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.
- Five stocks we like better than Generac
- Why Are Stock Sectors Important to Successful Investing?
- 3 Reasons Price Weakness Is a Buying Opportunity For Lennar
- What Are Dividend Champions? How to Invest in the Champions
- Name A Better Trio Than These Underrated High Potential Stocks
- How to Use the MarketBeat Stock Screener
- Institutions and Insiders Are Gobbling Up Shares of HASI
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.