Parkside Investments LLC Invests $4.68 Million in Generac Holdings Inc. $GNRC

Parkside Investments LLC bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, Holdings Channel.com reports. The firm bought 34,335 shares of the technology company’s stock, valued at approximately $4,682,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GNRC. Massachusetts Financial Services Co. MA lifted its holdings in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares during the last quarter. Robeco Schweiz AG bought a new position in Generac in the 4th quarter valued at approximately $51,020,000. Victory Capital Management Inc. raised its holdings in Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares during the last quarter. Holocene Advisors LP raised its holdings in Generac by 346.6% in the 2nd quarter. Holocene Advisors LP now owns 356,623 shares of the technology company’s stock valued at $51,072,000 after buying an additional 276,775 shares during the last quarter. Finally, Merewether Investment Management LP bought a new position in Generac in the 2nd quarter valued at approximately $38,079,000. Institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $275.00 price objective on shares of Generac in a report on Thursday, April 30th. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Bank of America dropped their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Stephens reiterated an “overweight” rating and issued a $290.00 price objective on shares of Generac in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

NYSE:GNRC opened at $270.50 on Tuesday. The company has a market capitalization of $15.92 billion, a PE ratio of 84.80, a P/E/G ratio of 2.53 and a beta of 1.93. The company has a 50 day simple moving average of $224.11 and a two-hundred day simple moving average of $190.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. Generac Holdings Inc. has a fifty-two week low of $118.09 and a fifty-two week high of $276.80.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. Research analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.