Balentine LLC Invests $468,000 in Generac Holdings Inc. (NYSE:GNRC)

Balentine LLC acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, HoldingsChannel reports. The firm acquired 2,945 shares of the technology company’s stock, valued at approximately $468,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC grew its stake in shares of Generac by 2.6% during the 1st quarter. Private Advisor Group LLC now owns 13,328 shares of the technology company’s stock worth $1,681,000 after acquiring an additional 344 shares during the period. Daiwa Securities Group Inc. boosted its position in Generac by 22.8% during the first quarter. Daiwa Securities Group Inc. now owns 2,022 shares of the technology company’s stock worth $255,000 after purchasing an additional 376 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Generac by 2.3% in the first quarter. Texas Permanent School Fund Corp now owns 12,690 shares of the technology company’s stock valued at $1,601,000 after purchasing an additional 287 shares during the period. Finally, Empirical Finance LLC lifted its stake in shares of Generac by 4.5% during the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after buying an additional 75 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Generac Trading Up 6.5 %

NYSE GNRC opened at $181.80 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $157.94 and its two-hundred day simple moving average is $149.02. Generac Holdings Inc. has a twelve month low of $100.23 and a twelve month high of $182.31. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.11 and a beta of 1.37.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS. Research analysts forecast that Generac Holdings Inc. will post 6.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GNRC. Canaccord Genuity Group boosted their target price on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Truist Financial lifted their target price on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Piper Sandler increased their price target on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $169.10.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.