Patten & Patten Inc. TN Buys 203 Shares of Generac Holdings Inc. (NYSE:GNRC)

Patten & Patten Inc. TN boosted its stake in Generac Holdings Inc. (NYSE:GNRC) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,765 shares of the technology company’s stock after purchasing an additional 203 shares during the quarter. Patten & Patten Inc. TN’s holdings in Generac were worth $1,862,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GNRC. ICA Group Wealth Management LLC bought a new stake in shares of Generac in the 4th quarter valued at $27,000. BKM Wealth Management LLC acquired a new position in Generac in the fourth quarter valued at about $28,000. ORG Partners LLC bought a new stake in shares of Generac in the fourth quarter worth about $38,000. Quarry LP raised its position in shares of Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Generac by 89.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

Generac stock traded up $3.29 during midday trading on Monday, reaching $159.78. 604,121 shares of the company’s stock were exchanged, compared to its average volume of 1,000,110. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The stock’s 50-day simple moving average is $143.49 and its 200 day simple moving average is $130.08. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 44.02, a P/E/G ratio of 2.12 and a beta of 1.37. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $161.03.

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

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GNRC shares. Truist Financial increased their target price on Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Guggenheim downgraded shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective for the company. in a research report on Thursday, May 30th. StockNews.com cut shares of Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Canaccord Genuity Group increased their target price on Generac from $150.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and boosted their price target for the company from $126.00 to $154.00 in a report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.90.

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.