Rheos Capital Works Inc. Takes $4.77 Million Position in Generac Holdings Inc. (NYSE:GNRC)

Rheos Capital Works Inc. purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,000 shares of the technology company’s stock, valued at approximately $4,766,000.

Several other institutional investors have also recently bought and sold shares of GNRC. DAVENPORT & Co LLC raised its position in shares of Generac by 831.1% during the first 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 during the last quarter. Willis Investment Counsel raised its holdings in Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares during the period. Epoch Investment Partners Inc. bought a new position in shares of Generac in the 1st quarter valued at about $1,053,000. Finally, Nwam LLC grew its position in shares of Generac by 135.8% during the 1st quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock worth $768,000 after buying an additional 3,242 shares during the period. Institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GNRC shares. Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $175.00 price target (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 price objective on shares of Generac in a research note on Tuesday, September 24th. Scotiabank increased their target price on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group boosted their target price on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Generac presently has a consensus rating of “Hold” and a consensus price target of $156.62.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by corporate insiders.

Generac Stock Performance

GNRC opened at $174.21 on Thursday. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 2.22 and a beta of 1.38. The business’s 50-day moving average price is $152.91 and its two-hundred day moving average price is $145.44. Generac Holdings Inc. has a 1 year low of $79.86 and a 1 year high of $175.86. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. Generac’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 EPS. Equities analysts expect that Generac Holdings Inc. will post 6.47 EPS for the current fiscal year.

About Generac

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.