Synovus Financial Corp Makes New $300,000 Investment in Generac Holdings Inc. (NYSE:GNRC)

Synovus Financial Corp bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,888 shares of the technology company’s stock, valued at approximately $300,000.

Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. increased its position in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Generac in the 3rd quarter valued at approximately $31,000. SouthState Corp acquired a new position in Generac in the third quarter worth approximately $32,000. Capital Advisors Ltd. LLC raised 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 valued at $34,000 after acquiring an additional 220 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 acquiring an additional 97 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GNRC shares. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their target price on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Roth Mkm raised their price objective on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Barclays started coverage on Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.30.

Generac Price Performance

NYSE:GNRC opened at $157.79 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The company has a 50-day moving average of $177.22 and a 200-day moving average of $157.71. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.09 and a beta of 1.39.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

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

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.