Generac Holdings Inc. $GNRC Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 387,082 shares of the technology company’s stock after acquiring an additional 16,229 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.66% of Generac worth $53,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GNRC. Caitong International Asset Management Co. Ltd purchased a new position in shares of Generac during the 3rd quarter worth $26,000. Sentry Investment Management LLC increased its stake in Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. First Horizon Corp acquired a new position in Generac in the third quarter valued at $28,000. MUFG Securities EMEA plc purchased a new position in Generac during the second quarter worth about $25,000. Finally, Quent Capital LLC purchased a new position in Generac during the third quarter worth about $41,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GNRC shares. Roth Mkm restated a “neutral” rating and issued a $220.00 price target on shares of Generac in a report on Thursday, February 12th. Needham & Company LLC began coverage on shares of Generac in a research report on Monday, January 12th. They issued a “buy” rating and a $211.00 target price on the stock. Guggenheim restated a “neutral” rating and issued a $202.00 target price on shares of Generac in a report on Tuesday, February 10th. Wells Fargo & Company upped their price target on shares of Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Robert W. Baird set a $292.00 price target on shares of Generac in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average target price of $222.06.

Generac Price Performance

GNRC opened at $209.33 on Wednesday. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $241.09. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 78.11, a PEG ratio of 1.47 and a beta of 1.74. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $198.50 and a 200 day simple moving average of $175.32.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. Equities research analysts expect that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Activity at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.