Procyon Advisors LLC Purchases 5,147 Shares of Generac Holdings Inc. $GNRC

Procyon Advisors LLC lifted its position in Generac Holdings Inc. (NYSE:GNRC) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,883 shares of the technology company’s stock after acquiring an additional 5,147 shares during the quarter. Procyon Advisors LLC owned 0.06% of Generac worth $6,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GNRC. Invesco Ltd. lifted its stake in Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. grew its stake in shares of Generac by 19,433.0% during the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after buying an additional 662,665 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after buying an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after buying an additional 536,732 shares during the period. Finally, Norges Bank bought a new stake in shares of Generac during the 4th quarter worth approximately $68,590,000. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GNRC shares. Canaccord Genuity Group upped their price objective on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $275.00 target price on Generac in a research report on Thursday, April 30th. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Finally, Bank of America reduced their price target on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $284.18.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares of the company’s stock, valued at $4,046,848. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,100 shares of company stock valued at $1,651,443. 2.40% of the stock is owned by insiders.

Generac Trading Up 0.2%

GNRC opened at $234.37 on Monday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $266.52 and its two-hundred day moving average is $217.86. The company has a market capitalization of $13.80 billion, a P/E ratio of 73.47, a PEG ratio of 2.19 and a beta of 1.89. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

About Generac

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.