Generac Holdings Inc. $GNRC Position Boosted by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 185.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 66,772 shares of the technology company’s stock after buying an additional 43,382 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Generac were worth $9,562,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GNRC. Invesco Ltd. lifted its holdings in Generac by 25.3% in the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company’s stock worth $179,148,000 after acquiring an additional 285,388 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Generac by 5,071.6% in the first quarter. Jones Financial Companies Lllp now owns 250,306 shares of the technology company’s stock worth $31,701,000 after acquiring an additional 245,466 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in Generac by 77.3% in the first quarter. DAVENPORT & Co LLC now owns 473,047 shares of the technology company’s stock worth $60,077,000 after acquiring an additional 206,311 shares during the last quarter. Nuveen LLC bought a new position in Generac in the first quarter worth about $23,375,000. Finally, Federated Hermes Inc. lifted its holdings in Generac by 51.0% in the first quarter. Federated Hermes Inc. now owns 458,335 shares of the technology company’s stock worth $58,048,000 after acquiring an additional 154,867 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total transaction of $837,100.00. Following the sale, the chief executive officer owned 547,966 shares of the company’s stock, valued at $91,740,467.72. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen raised their target price on shares of Generac from $155.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen cut shares of Generac from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Stifel Nicolaus lifted their price target on Generac from $195.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Generac from $128.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Generac from $165.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.11.

Generac Stock Performance

GNRC opened at $170.23 on Friday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $203.25. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.99 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.36 and a beta of 1.64. The business’s 50 day moving average is $183.16 and its 200-day moving average is $148.80.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a return on equity of 19.14% and a net margin of 7.91%.The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Generac has set its FY 2025 guidance at EPS. On average, analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current year.

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.