2,502 Shares in Generac Holdings Inc. $GNRC Bought by Jessup Wealth Management Inc

Jessup Wealth Management Inc acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,502 shares of the technology company’s stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNRC. MUFG Securities EMEA plc acquired a new position in shares of Generac during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Generac in the 3rd quarter valued at approximately $26,000. Avalon Trust Co bought a new position in Generac during the 1st quarter worth approximately $32,000. GHP Investment Advisors Inc. acquired a new position in Generac during the first quarter valued at approximately $36,000. Finally, Root Financial Partners LLC increased its stake in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GNRC. Wells Fargo & Company boosted their price target on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Roth Capital reaffirmed a “neutral” rating and issued a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. UBS Group upped their price target on Generac from $305.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Robert W. Baird set a $311.00 price objective on Generac in a report on Thursday, April 30th. Finally, Weiss Ratings cut Generac from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.44.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the transaction, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,100 shares of company stock worth $1,651,443 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Generac Stock Up 0.1%

Generac stock opened at $202.13 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The company’s 50-day moving average is $256.28 and its 200-day moving average is $223.23. The firm has a market capitalization of $11.90 billion, a PE ratio of 63.36, a P/E/G ratio of 1.89 and a beta of 1.89. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two 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 (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $1.26 EPS. Generac’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

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.