First Horizon Advisors Inc. Grows Position in Generac Holdings Inc. (NYSE:GNRC)

First Horizon Advisors Inc. raised its position in Generac Holdings Inc. (NYSE:GNRC) by 61.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 545 shares of the technology company’s stock after acquiring an additional 207 shares during the quarter. First Horizon Advisors Inc.’s holdings in Generac were worth $87,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNRC. EntryPoint Capital LLC increased its holdings in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after acquiring an additional 90 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. SouthState Corp acquired a new stake in Generac during the third quarter worth approximately $32,000. Capital Advisors Ltd. LLC lifted its position in shares of Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Generac by 73.5% in the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Up 3.0 %

GNRC opened at $189.08 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The stock has a market capitalization of $11.25 billion, a P/E ratio of 39.23, a P/E/G ratio of 2.25 and a beta of 1.37. The business has a 50 day simple moving average of $168.12 and a 200-day simple moving average of $153.56.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. On average, equities analysts anticipate that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GNRC shares. Robert W. Baird cut their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Roth Mkm upped their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Canaccord Genuity Group increased their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.58.

Insider Activity

In other news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company’s stock.

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.