Sunbelt Securities Inc. Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Sunbelt Securities Inc. increased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 97.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203 shares of the technology company’s stock after buying an additional 100 shares during the period. Sunbelt Securities Inc.’s holdings in Generac were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GNRC. DAVENPORT & Co LLC boosted its holdings in shares of Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares during the period. Capital World Investors bought a new stake in shares of Generac during the fourth quarter valued at about $155,707,000. Kampmann Melissa S. purchased a new stake in shares of Generac in the fourth quarter worth about $750,000. Epoch Investment Partners Inc. bought a new position in shares of Generac in the first quarter valued at approximately $1,053,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Generac in the first quarter valued at approximately $476,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of Generac stock opened at $160.18 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. Generac Holdings Inc. has a one year low of $79.86 and a one year high of $169.57. The business’s 50 day simple moving average is $148.88 and its two-hundred day simple moving average is $142.39. The stock has a market capitalization of $9.71 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. The company 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%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. Analysts forecast that Generac Holdings Inc. will post 6.5 EPS for the current year.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now owns 562,177 shares in the company, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

GNRC has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $175.00 price objective on shares of Generac in a research report on Tuesday, September 24th. Stifel Nicolaus restated a “buy” rating and set a $175.00 target price (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, Canaccord Genuity Group lifted their price target on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $154.71.

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.