Legacy Financial Group LLC Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Legacy Financial Group LLC bought a new position in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, Holdings Channel reports. The firm bought 1,540 shares of the technology company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in shares of Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after purchasing an additional 299,205 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Generac by 5.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 385,584 shares of the technology company’s stock worth $61,262,000 after acquiring an additional 20,576 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Generac in the 3rd quarter valued at about $45,722,000. International Assets Investment Management LLC raised its holdings in Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after purchasing an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in Generac by 678.5% during the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after purchasing an additional 167,641 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Trading Up 0.7 %

Shares of GNRC stock opened at $157.40 on Monday. The company has a 50-day moving average of $167.98 and a two-hundred day moving average of $161.57. The firm has a market cap of $9.37 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94. 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 (NYSE:GNRC) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Generac Holdings Inc. will post 6.91 EPS for the current year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,268 shares of company stock valued at $7,577,703. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

GNRC has been the subject of several research analyst reports. Barclays started coverage on Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. Citigroup dropped their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. TD Cowen boosted their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler raised their price target on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.30.

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.