Raymond James & Associates Boosts Position in Generac Holdings Inc. (NYSE:GNRC)

Raymond James & Associates grew its holdings in Generac Holdings Inc. (NYSE:GNRC) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 184,467 shares of the technology company’s stock after acquiring an additional 6,375 shares during the period. Raymond James & Associates’ holdings in Generac were worth $29,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DAVENPORT & Co LLC grew its position in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares during the period. Willis Investment Counsel grew its holdings in Generac by 18.7% during the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after acquiring an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Generac by 85.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after acquiring an additional 3,244 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Generac in the first quarter valued at approximately $1,053,000. Finally, Nwam LLC boosted its position in Generac by 135.8% in the 1st quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock worth $768,000 after purchasing an additional 3,242 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

Shares of Generac stock opened at $166.15 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The business’s 50 day moving average price is $155.27 and its 200 day moving average price is $146.74. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 45.77, a PEG ratio of 2.22 and a beta of 1.38. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $176.14.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Generac’s quarterly revenue was down .2% on a year-over-year basis. On average, research analysts predict that Generac Holdings Inc. will post 6.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GNRC shares. TD Cowen lifted their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday. Roth Mkm increased their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird lifted their price target on Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Truist Financial increased their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $165.40.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

About Generac

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.