DAVENPORT & Co LLC Raises Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

DAVENPORT & Co LLC raised its holdings in Generac Holdings Inc. (NYSE:GNRC) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,789 shares of the technology company’s stock after buying an additional 4,676 shares during the quarter. DAVENPORT & Co LLC’s holdings in Generac were worth $3,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Monte Financial Group LLC raised its stake in Generac by 4.4% in the fourth quarter. Monte Financial Group LLC now owns 9,643 shares of the technology company’s stock valued at $1,246,000 after buying an additional 408 shares during the last quarter. Pine Haven Investment Counsel Inc purchased a new stake in Generac in the fourth quarter valued at about $229,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in Generac in the fourth quarter valued at about $241,000. Westhampton Capital LLC purchased a new stake in Generac in the fourth quarter valued at about $229,000. Finally, State of Alaska Department of Revenue raised its stake in Generac by 273.7% in the fourth quarter. State of Alaska Department of Revenue now owns 27,636 shares of the technology company’s stock valued at $3,571,000 after buying an additional 20,240 shares during the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Trading Up 2.3 %

NYSE:GNRC opened at $131.26 on Friday. The stock has a 50-day simple moving average of $117.85 and a 200-day simple moving average of $113.90. The stock has a market cap of $7.91 billion, a P/E ratio of 39.90, a P/E/G ratio of 2.03 and a beta of 1.45. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $156.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 2.27.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 14th. The technology company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a net margin of 5.33% and a return on equity of 14.15%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts anticipate that Generac Holdings Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at approximately $75,170,948.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GNRC shares. Citigroup increased their price target on Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Roth Mkm raised their price objective on Generac from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. TD Cowen dropped their price objective on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, UBS Group lowered their price target on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $139.79.

Generac Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.