Moran Wealth Management LLC Has $3.88 Million Holdings in Generac Holdings Inc. (NYSE:GNRC)

Moran Wealth Management LLC decreased its position in Generac Holdings Inc. (NYSE:GNRC) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,446 shares of the technology company’s stock after selling 110 shares during the quarter. Moran Wealth Management LLC’s holdings in Generac were worth $3,884,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its stake in shares of Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Sunbelt Securities Inc. increased its position in Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the last quarter. SouthState Corp bought a new position in Generac during the third quarter valued at about $32,000. Capital Advisors Ltd. LLC boosted its position in Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares during the period. Finally, Blue Trust Inc. grew its holdings in Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

Shares of GNRC stock opened at $180.19 on Thursday. The stock’s fifty day simple moving average is $165.55 and its 200 day simple moving average is $152.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 2.20 and a beta of 1.37. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. On average, analysts expect that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GNRC shares. TD Cowen boosted their price objective on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their price objective on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup increased their target price on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Scotiabank increased their price objective on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.05.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

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.