Brophy Wealth Management LLC Invests $620,000 in Generac Holdings Inc. (NYSE:GNRC)

Brophy Wealth Management LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,905 shares of the technology company's stock, valued at approximately $620,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. William Blair Investment Management LLC bought a new position in shares of Generac in the second quarter worth $98,282,000. The Manufacturers Life Insurance Company lifted its stake in shares of Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock worth $88,944,000 after acquiring an additional 299,205 shares during the period. Jennison Associates LLC acquired a new position in shares of Generac during the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC raised its holdings in Generac by 25,311.7% during the third 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 in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in Generac by 678.5% in 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 during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now owns 562,177 shares of the company's stock, valued at $89,346,790.61. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock valued at $7,584,853 in the last three months. Insiders own 2.90% of the company's stock.

Generac Stock Performance

NYSE GNRC traded down $4.55 on Tuesday, reaching $172.36. The stock had a trading volume of 382,825 shares, compared to its average volume of 934,682. 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. The company has a market cap of $10.26 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 2.18 and a beta of 1.39. The firm has a fifty day moving average of $176.57 and a two-hundred day moving average of $156.85.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.64 EPS. On average, equities research analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GNRC. Truist Financial increased their target price on Generac from $170.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on shares of Generac from $148.00 to $193.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on shares of Generac from $185.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Finally, Citigroup boosted their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Generac presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.30.

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.