Advisors Asset Management Inc. Has $1.06 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Advisors Asset Management Inc. increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,667 shares of the technology company’s stock after acquiring an additional 625 shares during the period. Advisors Asset Management Inc.’s holdings in Generac were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GNRC. SouthState Corp acquired a new stake in shares of Generac in the 3rd quarter valued at $32,000. Sunbelt Securities Inc. boosted 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 buying an additional 100 shares in the last quarter. EntryPoint Capital LLC grew its position in Generac by 73.2% in the first 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. Blue Trust Inc. raised its stake in Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after acquiring an additional 97 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after acquiring an additional 220 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Stock Performance

GNRC stock opened at $191.58 on Tuesday. The firm has a market cap of $11.40 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $168.12 and a 200-day moving average price of $153.67. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last issued its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business 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%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, equities research analysts expect that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Insider Activity at Generac

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. TD Cowen upped their price target on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stephens reissued an “overweight” rating and set a $200.00 price objective on shares of Generac in a report on Monday, August 5th. Wells Fargo & Company upped their target price on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.58.

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.