Ingalls & Snyder LLC Increases Stake in Generac Holdings Inc. (NYSE:GNRC)

Ingalls & Snyder LLC increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 48.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,502 shares of the technology company’s stock after buying an additional 1,465 shares during the period. Ingalls & Snyder LLC’s holdings in Generac were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in shares of Generac by 273.7% in the 4th quarter. State of Alaska Department of Revenue now owns 27,636 shares of the technology company’s stock valued at $3,571,000 after purchasing an additional 20,240 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Generac by 13.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 83,646 shares of the technology company’s stock worth $10,810,000 after acquiring an additional 9,849 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Generac in the 4th quarter valued at about $17,956,000. DekaBank Deutsche Girozentrale raised its position in shares of Generac by 40.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 146,470 shares of the technology company’s stock worth $18,955,000 after acquiring an additional 42,208 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in Generac during the third quarter worth approximately $1,832,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GNRC. Citigroup raised their price objective on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. TD Cowen reduced their price target on shares of Generac from $165.00 to $144.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Canaccord Genuity Group upped their price objective on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Robert W. Baird lifted their target price on Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Guggenheim cut Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.80.

Generac Stock Down 3.2 %

GNRC stock opened at $131.76 on Friday. Generac Holdings Inc. has a one year low of $79.86 and a one 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. The company has a fifty day moving average of $120.31 and a 200-day moving average of $115.11. The stock has a market capitalization of $7.94 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 1.74 and a beta of 1.45.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 14th. The technology company reported $2.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts expect that Generac Holdings Inc. will post 6.3 EPS for the current year.

Generac Company 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.