Forest Avenue Capital Management LP Buys New Holdings in Generac Holdings Inc. (NYSE:GNRC)

Forest Avenue Capital Management LP purchased a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 318,046 shares of the technology company’s stock, valued at approximately $49,313,000. Generac accounts for 4.5% of Forest Avenue Capital Management LP’s portfolio, making the stock its 11th largest holding. Forest Avenue Capital Management LP owned approximately 0.53% of Generac at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of Generac by 3.0% during the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after purchasing an additional 80 shares during the period. Venturi Wealth Management LLC lifted its position in Generac by 42.0% during the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company’s stock valued at $44,000 after buying an additional 84 shares in the last quarter. Wedbush Securities Inc. lifted its position in Generac by 3.9% during the fourth quarter. Wedbush Securities Inc. now owns 2,235 shares of the technology company’s stock valued at $347,000 after buying an additional 84 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Generac by 61.7% in the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company’s stock worth $35,000 after acquiring an additional 87 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of Generac by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,518 shares of the technology company’s stock valued at $235,000 after acquiring an additional 90 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Performance

Shares of NYSE GNRC opened at $110.15 on Monday. The stock has a market capitalization of $6.57 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.44 and a beta of 1.58. The firm’s 50-day moving average price is $131.34 and its two-hundred day moving average price is $155.16. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. As a group, sell-side analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America began coverage on shares of Generac in a research report on Monday, March 24th. They set a “buy” rating and a $182.00 price target for the company. Robert W. Baird reduced their price target on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Citigroup lowered their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.60.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Generac 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.