Ellsworth Advisors LLC Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Ellsworth Advisors LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 27,222 shares of the technology company’s stock, valued at approximately $4,221,000.

A number of other institutional investors have also recently bought and sold shares of GNRC. Empirical Finance LLC boosted its stake in shares of Generac by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock worth $268,000 after acquiring an additional 66 shares during the period. Nicollet Investment Management Inc. boosted its position in Generac by 1.1% during the third quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock worth $1,250,000 after purchasing an additional 82 shares during the period. Mather Group LLC. raised its position in shares of Generac by 6.5% in the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock valued at $243,000 after purchasing an additional 93 shares during the period. Blue Trust Inc. lifted its stake in shares of Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after buying an additional 97 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup reduced their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus lifted their target price on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Truist Financial decreased their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price target on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus target price of $174.30.

Insider Buying and Selling

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,577,703 over the last 90 days. 2.90% of the stock is owned by insiders.

Generac Price Performance

Shares of NYSE:GNRC opened at $161.12 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.59 and a beta of 1.42. The firm has a 50 day simple moving average of $170.92 and a 200 day simple moving average of $160.92.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. Research analysts predict that Generac Holdings Inc. will post 6.91 earnings per share for the current fiscal year.

About Generac

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.