New Wave Wealth Advisors LLC Makes New $861,000 Investment in Generac Holdings Inc. $GNRC

New Wave Wealth Advisors LLC purchased a new stake in Generac Holdings Inc. (NYSE:GNRC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,017 shares of the technology company’s stock, valued at approximately $861,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callan Family Office LLC purchased a new stake in shares of Generac in the second quarter worth about $3,033,000. Hsbc Holdings PLC grew its stake in Generac by 42.8% during the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after acquiring an additional 27,893 shares in the last quarter. Patton Fund Management Inc. purchased a new position in Generac during the first quarter valued at approximately $3,797,000. Tidal Investments LLC grew its stake in Generac by 94.3% during the second quarter. Tidal Investments LLC now owns 55,302 shares of the technology company’s stock valued at $16,193,000 after acquiring an additional 26,836 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in Generac during the 1st quarter worth approximately $1,267,000. 84.04% of the stock is currently owned by institutional investors.

Generac Price Performance

Shares of GNRC stock traded up $1.75 during trading on Monday, hitting $194.43. The company had a trading volume of 291,377 shares, compared to its average volume of 1,087,010. The stock’s 50-day moving average is $202.50 and its two-hundred day moving average is $227.12. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 44.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.91. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business posted $1.65 earnings per share. Generac’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that Generac Holdings Inc. will post 9.74 EPS for the current fiscal year.

Analysts Set New Price Targets

GNRC has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $283.00 price target on shares of Generac in a report on Thursday, September 17th. Weiss Ratings upgraded shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Citigroup decreased their price target on shares of Generac from $300.00 to $232.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Zacks Research downgraded Generac from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Raymond James Financial set a $286.00 price objective on Generac in a research note on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.55.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $206.00, for a total value of $1,030,000.00. Following the completion of the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at approximately $112,172,768. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the transaction, the insider directly owned 9,966 shares in the company, valued at approximately $2,118,472.62. This represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 18,442 shares of company stock worth $3,656,537. 2.40% of the stock is currently owned by corporate insiders.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.