Fortis Advisors LLC Takes Position in Generac Holdings Inc. $GNRC

Fortis Advisors LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,800 shares of the technology company’s stock, valued at approximately $245,000.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac in the third quarter valued at $26,000. Sentry Investment Management LLC grew its stake in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter valued at $25,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Generac in the third quarter valued at $46,000. Finally, Quarry LP grew its stake in shares of Generac by 66.3% in the third quarter. Quarry LP now owns 399 shares of the technology company’s stock valued at $67,000 after buying an additional 159 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GNRC. Robert W. Baird set a $311.00 price objective on Generac in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Barclays lifted their price objective on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $277.00 price objective on shares of Generac in a research note on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Generac in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus target price of $276.88.

Generac Trading Down 0.5%

GNRC opened at $278.17 on Friday. Generac Holdings Inc. has a 12 month low of $118.09 and a 12 month high of $287.09. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 87.20, a PEG ratio of 2.60 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The business has a fifty day moving average price of $230.20 and a 200 day moving average price of $193.38.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $1.26 EPS. Generac’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

About Generac

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.