Congress Asset Management Co. Acquires 560 Shares of Generac Holdings Inc. (NYSE:GNRC)

Congress Asset Management Co. lifted its stake in Generac Holdings Inc. (NYSE:GNRC) by 23.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,990 shares of the technology company’s stock after purchasing an additional 560 shares during the quarter. Congress Asset Management Co.’s holdings in Generac were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. DAVENPORT & Co LLC boosted its holdings in Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares in the last quarter. Willis Investment Counsel boosted its stake in Generac by 18.7% in the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in Generac during the 1st quarter valued at about $1,053,000. Finally, Nwam LLC raised its holdings in Generac by 135.8% in the first quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock worth $768,000 after buying an additional 3,242 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GNRC shares. Stephens reissued an “overweight” rating and set a $200.00 price target on shares of Generac in a research report on Monday, August 5th. Robert W. Baird decreased their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $175.00 price target (up from $145.00) on shares of Generac in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Sandler upped their target price on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average target price of $169.10.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.90% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $168.91 on Friday. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.12 and a beta of 1.38. Generac Holdings Inc. has a 12 month low of $98.27 and a 12 month high of $176.14. The company’s 50 day moving average is $156.93 and its two-hundred day moving average is $147.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $1.64 EPS. Generac’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that Generac Holdings Inc. will post 6.49 earnings per share for the current year.

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.