Princeton Global Asset Management LLC increased its position in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 123.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163 shares of the technology company’s stock after buying an additional 90 shares during the period. Princeton Global Asset Management LLC’s holdings in Generac were worth $48,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in Generac in the 4th quarter valued at $33,000. Key Financial Inc bought a new stake in Generac in the 1st quarter valued at $29,000. Covestor Ltd bought a new stake in Generac in the 4th quarter valued at $37,000. SJS Investment Consulting Inc. bought a new stake in Generac in the 1st quarter valued at $35,000. Finally, American National Bank boosted its holdings in Generac by 59.2% in the 1st quarter. American National Bank now owns 121 shares of the technology company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. 88.35% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on GNRC shares. Piper Sandler reduced their price target on shares of Generac from $350.00 to $305.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Northland Securities began coverage on shares of Generac in a research note on Wednesday, May 25th. They issued an “outperform” rating and a $370.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Generac from $455.00 to $461.00 in a research note on Wednesday, July 20th. Roth Capital dropped their price objective on shares of Generac from $555.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Finally, Wells Fargo & Company began coverage on shares of Generac in a research note on Wednesday, June 29th. They issued an “overweight” rating and a $285.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $424.71.
Generac Trading Down 2.2 %
Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.34. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Generac had a net margin of 12.28% and a return on equity of 29.42%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.39 EPS. As a group, equities analysts anticipate that Generac Holdings Inc. will post 11.75 earnings per share for the current fiscal year.
Insider Buying and Selling at Generac
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $264.96, for a total value of $1,324,800.00. Following the transaction, the chief executive officer now owns 610,975 shares of the company’s stock, valued at approximately $161,883,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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