Icon Wealth Advisors LLC Purchases 17,349 Shares of Generac Holdings Inc. (NYSE:GNRC)

Icon Wealth Advisors LLC grew its position in Generac Holdings Inc. (NYSE:GNRC) by 2,060.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,191 shares of the technology company’s stock after acquiring an additional 17,349 shares during the period. Icon Wealth Advisors LLC’s holdings in Generac were worth $2,890,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GNRC. William Blair Investment Management LLC bought a new position in Generac during the second quarter worth about $98,282,000. Jennison Associates LLC acquired a new stake in shares of Generac in the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC boosted its stake in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after acquiring an additional 266,026 shares during the period. Stephens Investment Management Group LLC raised its stake in Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after acquiring an additional 167,641 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Generac by 29.2% during the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after purchasing an additional 103,439 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have 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 research report on Thursday, August 1st. Piper Sandler raised their price objective on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Generac in a research report on Monday, August 5th. Wells Fargo & Company upped their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Northland Securities boosted their target price on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.05.

Generac Stock Performance

Shares of Generac stock opened at $183.57 on Friday. The company’s 50 day moving average price is $167.15 and its two-hundred day moving average price is $153.07. The firm has a market capitalization of $10.92 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.20 and a beta of 1.37. Generac Holdings Inc. has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. On average, equities analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 over the last quarter. 2.90% of the stock is owned by company 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.