Cetera Advisor Networks LLC Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Cetera Advisor Networks LLC raised its holdings in Generac Holdings Inc. (NYSE:GNRC) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,740 shares of the technology company’s stock after purchasing an additional 2,229 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Generac were worth $4,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Generac by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 455,874 shares of the technology company’s stock valued at $67,984,000 after acquiring an additional 17,494 shares during the period. Burney Co. lifted its position in shares of Generac by 1.1% during the 2nd quarter. Burney Co. now owns 33,395 shares of the technology company’s stock valued at $4,980,000 after acquiring an additional 366 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Generac by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 373,235 shares of the technology company’s stock worth $55,660,000 after purchasing an additional 45,499 shares during the last quarter. Cim Investment Management Inc. raised its position in shares of Generac by 51.1% during the 2nd quarter. Cim Investment Management Inc. now owns 10,619 shares of the technology company’s stock worth $1,584,000 after purchasing an additional 3,590 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC raised its position in shares of Generac by 93.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 83,843 shares of the technology company’s stock worth $12,504,000 after purchasing an additional 40,455 shares during the last quarter. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on GNRC shares. Janney Montgomery Scott upgraded Generac from a “neutral” rating to a “buy” rating in a research report on Friday, August 4th. Piper Sandler cut their price objective on Generac from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. Bank of America upgraded Generac from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $76.00 to $110.00 in a research report on Wednesday, November 15th. Stifel Nicolaus upgraded Generac from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $135.00 in a research report on Thursday, November 2nd. Finally, Citigroup cut their price target on Generac from $133.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.82.

Insider Buying and Selling at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.23, for a total value of $30,057.50. Following the completion of the transaction, the executive vice president now directly owns 16,118 shares of the company’s stock, valued at approximately $1,937,867.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $108.24, for a total value of $541,200.00. Following the sale, the chief executive officer now owns 597,690 shares in the company, valued at approximately $64,693,965.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 250 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.23, for a total transaction of $30,057.50. Following the completion of the sale, the executive vice president now owns 16,118 shares in the company, valued at approximately $1,937,867.14. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $1,675,768 in the last ninety days. Insiders own 2.80% of the company’s stock.

Generac Stock Down 0.1 %

Shares of Generac stock opened at $113.95 on Tuesday. The company has a fifty day moving average price of $102.42 and a 200 day moving average price of $116.81. The company has a current ratio of 2.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.09. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Generac had a net margin of 4.72% and a return on equity of 13.73%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. Equities research analysts forecast that Generac Holdings Inc. will post 5.35 earnings per share for the current fiscal year.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.