Atwood & Palmer Inc. lifted its stake in Generac Holdings Inc. (NYSE:GNRC) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,345 shares of the technology company’s stock after buying an additional 1,075 shares during the quarter. Generac makes up 2.1% of Atwood & Palmer Inc.’s holdings, making the stock its 22nd largest position. Atwood & Palmer Inc. owned about 0.33% of Generac worth $15,930,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. MML Investors Services LLC boosted its stake in shares of Generac by 2.4% in the second quarter. MML Investors Services LLC now owns 7,553 shares of the technology company’s stock worth $524,000 after buying an additional 175 shares during the last quarter. CapWealth Advisors LLC boosted its position in Generac by 1.5% during the second quarter. CapWealth Advisors LLC now owns 21,646 shares of the technology company’s stock worth $1,502,000 after purchasing an additional 315 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Generac by 1.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 22,769 shares of the technology company’s stock worth $1,580,000 after purchasing an additional 380 shares in the last quarter. Advisor Group Inc. boosted its position in Generac by 4.7% during the second quarter. Advisor Group Inc. now owns 12,560 shares of the technology company’s stock worth $872,000 after purchasing an additional 560 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in Generac by 12.1% during the second quarter. First Hawaiian Bank now owns 6,850 shares of the technology company’s stock worth $475,000 after purchasing an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.
In other Generac news, EVP Erik Wilde sold 7,587 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the completion of the transaction, the executive vice president now owns 11,196 shares of the company’s stock, valued at $799,842.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Russell S. Minick sold 10,328 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $73.91, for a total value of $763,342.48. Following the transaction, the insider now directly owns 24,743 shares of the company’s stock, valued at approximately $1,828,755.13. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on GNRC. Robert W. Baird upgraded Generac from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $64.00 to $86.00 in a research report on Monday, July 1st. Zacks Investment Research downgraded Generac from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Bank of America reiterated a “buy” rating and set a $88.00 price target on shares of Generac in a research report on Monday, September 16th. Canaccord Genuity set a $80.00 price target on Generac and gave the stock a “hold” rating in a research report on Thursday, October 10th. Finally, ValuEngine downgraded Generac from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $82.60.
GNRC stock traded down $0.78 during mid-day trading on Monday, reaching $86.55. 697,023 shares of the company’s stock were exchanged, compared to its average volume of 470,188. The stock’s 50 day moving average is $80.35 and its 200 day moving average is $68.01. Generac Holdings Inc. has a 12-month low of $45.43 and a 12-month high of $88.45. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.75 and a beta of 1.15. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.19 and a quick ratio of 1.00.
Generac (NYSE:GNRC) last announced its earnings results on Thursday, August 1st. The technology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Generac had a return on equity of 38.99% and a net margin of 12.09%. The business had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $538.96 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Generac Holdings Inc. will post 4.8 earnings per share for the current fiscal year.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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