Generac Holdings Inc. $GNRC Shares Purchased by Gagnon Securities LLC

Gagnon Securities LLC raised its stake in Generac Holdings Inc. (NYSE:GNRC) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,561 shares of the technology company’s stock after buying an additional 9,372 shares during the quarter. Generac comprises about 2.6% of Gagnon Securities LLC’s portfolio, making the stock its 14th biggest holding. Gagnon Securities LLC’s holdings in Generac were worth $12,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. First Horizon Corp acquired a new position in shares of Generac in the 3rd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new stake in Generac in the second quarter valued at approximately $25,000. Creative Capital Management Investments LLC raised its position in Generac by 740.7% in the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after purchasing an additional 200 shares during the period. Quent Capital LLC acquired a new position in Generac during the third quarter worth $41,000. Finally, Red Tortoise LLC purchased a new position in shares of Generac during the third quarter worth $42,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on GNRC. Citigroup upgraded Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective on the stock in a report on Thursday, January 8th. Zacks Research lowered shares of Generac from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. Needham & Company LLC started coverage on shares of Generac in a research report on Monday, January 12th. They set a “buy” rating and a $211.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a report on Thursday, January 22nd. Finally, Guggenheim cut their target price on shares of Generac from $210.00 to $202.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.29.

Generac Price Performance

Shares of GNRC opened at $169.94 on Friday. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 1.40 and a beta of 1.82. The firm’s fifty day simple moving average is $153.71 and its 200-day simple moving average is $167.72. 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 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company earned $2.25 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the sale, the chief executive officer owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.