Generac Holdings Inc. $GNRC Stake Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its stake in Generac Holdings Inc. (NYSE:GNRC) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,082 shares of the technology company’s stock after acquiring an additional 16,229 shares during the period. DAVENPORT & Co LLC’s holdings in Generac were worth $53,190,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Scott & Selber Inc. raised its stake in shares of Generac by 14.1% in the 4th quarter. Scott & Selber Inc. now owns 25,393 shares of the technology company’s stock valued at $3,463,000 after purchasing an additional 3,136 shares in the last quarter. SG Americas Securities LLC grew its stake in Generac by 125.5% in the fourth quarter. SG Americas Securities LLC now owns 39,843 shares of the technology company’s stock worth $5,433,000 after purchasing an additional 22,178 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Generac by 2,675.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,916 shares of the technology company’s stock valued at $5,443,000 after buying an additional 38,478 shares during the last quarter. Ulland Investment Advisors LLC increased its holdings in Generac by 261.4% in the fourth quarter. Ulland Investment Advisors LLC now owns 2,750 shares of the technology company’s stock valued at $375,000 after buying an additional 1,989 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc raised its stake in Generac by 14.5% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 3,321 shares of the technology company’s stock valued at $453,000 after buying an additional 420 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GNRC. Jefferies Financial Group started coverage on Generac in a report on Friday, March 20th. They set a “hold” rating and a $222.00 target price on the stock. Bank of America dropped their price target on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Monday, December 8th. Finally, Barclays boosted their target price on shares of Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

Generac Price Performance

NYSE GNRC opened at $209.33 on Wednesday. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $241.09. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 78.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.74. The company has a 50-day moving average price of $198.50 and a two-hundred day moving average price of $175.32.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $2.80 EPS. Analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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.