Ascent Group LLC Purchases 385 Shares of Generac Holdings Inc. (NYSE:GNRC)

Ascent Group LLC lifted its position in Generac Holdings Inc. (NYSE:GNRC) by 12.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,575 shares of the technology company’s stock after buying an additional 385 shares during the period. Ascent Group LLC’s holdings in Generac were worth $451,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors purchased a new stake in shares of Generac in the 4th quarter worth approximately $155,707,000. Norges Bank bought a new stake in Generac during the 4th quarter valued at $67,253,000. Wellington Management Group LLP increased its holdings in shares of Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after acquiring an additional 318,664 shares during the period. DAVENPORT & Co LLC raised its position in shares of Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Generac during the 4th quarter worth $17,956,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Stock Performance

Shares of NYSE:GNRC traded down $0.17 during midday trading on Tuesday, reaching $155.25. The company’s stock had a trading volume of 298,198 shares, compared to its average volume of 987,864. The firm has a market capitalization of $9.41 billion, a PE ratio of 42.82, a P/E/G ratio of 2.16 and a beta of 1.37. The stock has a fifty day moving average of $144.89 and a 200 day moving average of $131.58. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $161.80. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.16. The company had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, equities analysts expect that Generac Holdings Inc. will post 6.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. StockNews.com cut shares of Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Truist Financial lifted their price target on shares of Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Oppenheimer lowered Generac from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Finally, Scotiabank boosted their target price on Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Generac has an average rating of “Hold” and a consensus target price of $144.74.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares in the company, valued at approximately $82,175,421.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $140.55, for a total transaction of $76,740.30. Following the sale, the director now directly owns 3,512 shares in the company, valued at approximately $493,611.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the transaction, the chief executive officer now directly owns 587,177 shares of the company’s stock, valued at approximately $82,175,421.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,785 shares of company stock worth $11,720,411. 2.80% of the stock is owned by corporate insiders.

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.