Balentine LLC Acquires Shares of 2,945 Generac Holdings Inc. (NYSE:GNRC)

Balentine LLC acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,945 shares of the technology company’s stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNRC. 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 during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the period. Blue Trust Inc. increased its holdings 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 purchasing an additional 97 shares during the period. Capital Advisors Ltd. LLC raised its position in 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 purchasing an additional 220 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in Generac during the 2nd quarter worth about $38,000. Institutional investors own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup increased their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird dropped their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Scotiabank increased their price objective on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.10.

Generac Trading Up 6.5 %

NYSE GNRC opened at $181.80 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $157.94 and a 200 day simple moving average of $149.02. Generac Holdings Inc. has a 12 month low of $100.23 and a 12 month high of $182.31. The firm has a market capitalization of $10.94 billion, a P/E ratio of 37.72, a PEG ratio of 2.11 and a beta of 1.37.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Generac Holdings Inc. will post 6.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 directly owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.90% of the company’s stock.

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.