Generac Holdings Inc. (NYSE:GNRC) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 831.1% during the first quarter, HoldingsChannel.com reports. The firm owned 240,111 shares of the technology company’s stock after purchasing an additional 214,322 shares during the period. DAVENPORT & Co LLC’s holdings in Generac were worth $30,288,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in Generac in the 4th quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of Generac during the 4th quarter worth approximately $28,000. ORG Partners LLC acquired a new position in shares of Generac during the 4th quarter worth approximately $38,000. Quarry LP lifted its stake in Generac by 219.6% in the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its holdings in Generac by 89.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Activity at Generac

In related news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Erik Wilde sold 4,384 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total value of $675,311.36. Following the completion of the sale, the executive vice president now owns 17,897 shares of the company’s stock, valued at approximately $2,756,853.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now directly owns 19,815 shares in the company, valued at approximately $2,889,027. The disclosure for this sale can be found here. In the last three months, insiders sold 80,785 shares of company stock valued at $11,720,411. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GNRC. Janney Montgomery Scott downgraded Generac from a “buy” rating to a “neutral” rating and upped their price objective for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Roth Mkm raised their price target on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Oppenheimer downgraded shares of Generac from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $149.00 target price on shares of Generac in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $141.67.

Generac Trading Up 4.4 %

GNRC traded up $6.30 on Thursday, reaching $148.42. 759,186 shares of the company’s stock were exchanged, compared to its average volume of 997,700. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The company’s 50 day moving average is $140.70 and its 200-day moving average is $128.73.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The business had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts predict that Generac Holdings Inc. will post 6.15 earnings per share for the current year.

Generac Company Profile

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.