Procyon Advisors LLC Raises Stock Holdings in Generac Holdings Inc. $GNRC

Procyon Advisors LLC boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 18.6% during the first quarter, Holdings Channel.com reports. The firm owned 32,883 shares of the technology company’s stock after purchasing an additional 5,147 shares during the quarter. Procyon Advisors LLC’s holdings in Generac were worth $6,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in shares of Generac by 4.4% during the 4th quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock worth $53,190,000 after acquiring an additional 16,229 shares in the last quarter. Private Advisory Group LLC grew its holdings in Generac by 26.2% in the fourth quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock worth $8,016,000 after purchasing an additional 12,191 shares during the last quarter. Lighthouse Investment Partners LLC increased its position in shares of Generac by 556.7% during the third quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock worth $8,689,000 after purchasing an additional 43,999 shares in the last quarter. Willis Investment Counsel increased its position in shares of Generac by 10.5% during the fourth quarter. Willis Investment Counsel now owns 143,137 shares of the technology company’s stock worth $19,520,000 after purchasing an additional 13,553 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Generac by 42.8% during the 4th quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after purchasing an additional 27,893 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James Financial set a $302.00 target price on Generac in a research note on Friday, May 22nd. Canaccord Genuity Group raised their price target on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. TD Cowen boosted their price target on Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Needham & Company LLC restated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.18.

Insider Activity

In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total value of $140,800.00. Following the transaction, the insider owned 15,808 shares in the company, valued at approximately $4,046,848. This represents a 3.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,100 shares of company stock valued at $1,651,443. Company insiders own 2.40% of the company’s stock.

Generac Stock Performance

Shares of GNRC stock opened at $234.37 on Monday. The firm has a market capitalization of $13.80 billion, a price-to-earnings ratio of 73.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.89. 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 of $266.52 and a 200 day moving average of $217.86. Generac Holdings Inc. has a 1 year low of $134.80 and a 1 year high of $296.44.

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