Balentine LLC Takes $468,000 Position in Generac Holdings Inc. (NYSE:GNRC)

Balentine LLC acquired a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,945 shares of the technology company's stock, valued at approximately $468,000.

Other large investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its stake 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 acquiring an additional 100 shares in the last quarter. EntryPoint Capital LLC increased its stake in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company's stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Blue Trust Inc. raised its holdings in 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 period. Capital Advisors Ltd. LLC lifted its stake in Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock valued at $34,000 after buying an additional 220 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Generac in the second quarter worth about $38,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GNRC has been the subject of a number of research reports. TD Cowen raised their price objective on Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Stifel Nicolaus reaffirmed a "buy" rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Citigroup increased their price objective on Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group boosted their target price on Generac from $177.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Generac currently has an average rating of "Moderate Buy" and an average target price of $169.10.

Generac Stock Performance

GNRC traded up $1.69 during trading on Wednesday, reaching $183.50. 2,267,189 shares of the company's stock were exchanged, compared to its average volume of 960,421. The company has a market capitalization of $11.04 billion, a P/E ratio of 38.07, a PEG ratio of 2.11 and a beta of 1.37. The business has a 50 day moving average price of $158.54 and a 200 day moving average price of $149.27. Generac Holdings Inc. has a fifty-two week low of $100.23 and a fifty-two week high of $188.30. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC - Get Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the firm posted $1.64 EPS. Generac's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts predict that Generac Holdings Inc. will post 6.67 earnings per share for the current fiscal year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares of the company's stock, valued at approximately $92,825,688.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company 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.