Victory Capital Management Inc. Purchases 324,809 Shares of Generac Holdings Inc. $GNRC

Victory Capital Management Inc. increased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,138,139 shares of the technology company’s stock after purchasing an additional 324,809 shares during the period. Victory Capital Management Inc.’s holdings in Generac were worth $355,530,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GNRC. MUFG Securities EMEA plc bought a new position in shares of Generac in the 2nd quarter valued at about $25,000. First Horizon Corp purchased a new position in shares of Generac in the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC increased its position in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC purchased a new stake in Generac during the 3rd quarter valued at $41,000. Finally, Red Tortoise LLC bought a new stake in Generac in the third quarter worth $42,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GNRC. Guggenheim reiterated a “neutral” rating and set a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Wells Fargo & Company upped their price target on shares of Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Needham & Company LLC assumed coverage on shares of Generac in a research report on Monday, January 12th. They issued a “buy” rating and a $211.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. Finally, Barclays upped their target price on Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.19.

Generac Trading Up 2.2%

Shares of NYSE GNRC opened at $230.22 on Tuesday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $241.09. The firm has a market cap of $13.51 billion, a PE ratio of 85.90, a price-to-earnings-growth ratio of 1.64 and a beta of 1.74. The business has a fifty day simple moving average of $178.22 and a two-hundred day simple moving average of $173.16. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48.

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

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Generac 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.