Heritage Wealth Management Inc. Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Heritage Wealth Management Inc. acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,885 shares of the technology company’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after acquiring an additional 25,646 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Generac during the second quarter worth approximately $98,282,000. Dimensional Fund Advisors LP boosted its holdings in Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after buying an additional 35,026 shares in the last quarter. Ninety One UK Ltd boosted its holdings in Generac by 0.7% during the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after buying an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Generac Stock Up 2.4 %

Generac stock opened at $161.96 on Thursday. The company has a market capitalization of $9.82 billion, a P/E ratio of 44.62, a P/E/G ratio of 1.88 and a beta of 1.38. The firm’s fifty day simple moving average is $148.56 and its 200-day simple moving average is $141.80. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $169.57.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 6.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GNRC. Roth Mkm raised their target price on shares of Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Piper Sandler restated an “overweight” rating and set a $175.00 target price on shares of Generac in a report on Tuesday, September 24th. Wells Fargo & Company upped their price target on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Canaccord Genuity Group upped their price target on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $154.71.

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.