C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,278 shares of the technology company's stock, valued at approximately $1,439,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in Generac by 133.6% in the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock valued at $104,227,000 after acquiring an additional 384,434 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after acquiring an additional 299,205 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings 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 buying an additional 20,576 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company's stock worth $42,433,000 after buying an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Generac by 25.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 241,114 shares of the technology company's stock worth $37,385,000 after buying an additional 48,765 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now owns 570,825 shares in the company, valued at approximately $89,904,937.50. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company's stock.

Generac Trading Down 0.5 %

NYSE GNRC traded down $0.70 during trading hours on Friday, hitting $137.87. 850,408 shares of the company's stock were exchanged, compared to its average volume of 886,802. The stock has a 50-day simple moving average of $153.86 and a 200 day simple moving average of $160.34. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.48 and a beta of 1.42. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) 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%. On average, equities analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com upgraded Generac from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Wells Fargo & Company dropped their price objective on Generac from $175.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Truist Financial dropped their price objective on Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus dropped their price objective on Generac from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler dropped their price objective on Generac from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and an average price target of $174.00.

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.