Chase Investment Counsel Corp acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,972 shares of the technology company’s stock, valued at approximately $4,285,000.
A number of other hedge funds have also bought and sold shares of the stock. Sunbelt Securities Inc. increased its stake in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. EntryPoint Capital LLC boosted its stake in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Blue Trust Inc. raised its stake in Generac by 73.5% in the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after buying an additional 97 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in Generac during the second quarter worth approximately $38,000. Institutional investors and hedge funds own 84.04% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on GNRC. JPMorgan Chase & Co. boosted their target price on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Citigroup increased their price target on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens reissued an “overweight” rating and issued a $200.00 price target on shares of Generac in a research note on Monday, August 5th. Finally, TD Cowen raised their price objective on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.10.
Generac Trading Down 2.5 %
Shares of GNRC stock opened at $190.32 on Wednesday. Generac Holdings Inc. has a 12 month low of $102.23 and a 12 month high of $195.94. The business’s 50 day moving average is $161.47 and its two-hundred day moving average is $150.85. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a market cap of $11.32 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37.
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm earned $1.64 EPS. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Generac Holdings Inc. will post 6.8 EPS for the current year.
Insider Activity at Generac
In related news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 2.90% of the stock is owned by 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.
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