Jessup Wealth Management Inc Purchases New Position in Generac Holdings Inc. $GNRC

Jessup Wealth Management Inc purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,502 shares of the technology company’s stock, valued at approximately $489,000.

Several other hedge funds have also recently bought and sold shares of the stock. MUFG Securities EMEA plc acquired a new position in shares of Generac in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the third quarter worth approximately $26,000. Avalon Trust Co acquired a new stake in Generac during the 1st quarter worth approximately $32,000. GHP Investment Advisors Inc. bought a new stake in Generac in the 1st quarter valued at $36,000. Finally, Root Financial Partners LLC boosted its stake in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 54 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GNRC shares. Stifel Nicolaus set a $275.00 price objective on Generac in a research report on Thursday, April 30th. Barclays boosted their target price on shares of Generac from $228.00 to $285.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Cantor Fitzgerald assumed coverage on shares of Generac in a research report on Wednesday, July 22nd. They set an “overweight” rating and a $325.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.44.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares in the company, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the transaction, the insider directly owned 15,808 shares in the company, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,100 shares of company stock worth $1,651,443. Insiders own 2.40% of the company’s stock.

Generac Stock Performance

NYSE:GNRC opened at $202.13 on Monday. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 63.36, a PEG ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock has a fifty day moving average price of $256.28 and a 200-day moving average price of $223.23.

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. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $1.26 earnings per share. Generac’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

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.