Carnegie Investment Counsel Boosts Stake in Generac Holdings Inc. (NYSE:GNRC)

Carnegie Investment Counsel lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,080 shares of the technology company's stock after purchasing an additional 2,834 shares during the period. Carnegie Investment Counsel's holdings in Generac were worth $4,354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GNRC. Federated Hermes Inc. raised its stake in Generac by 7.6% during the second quarter. Federated Hermes Inc. now owns 9,811 shares of the technology company's stock worth $1,297,000 after buying an additional 691 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Generac by 189.4% during the second quarter. Brown Brothers Harriman & Co. now owns 521 shares of the technology company's stock worth $69,000 after buying an additional 341 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Generac by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company's stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. Argent Trust Co acquired a new position in shares of Generac during the second quarter valued at about $450,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Generac by 32.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,170 shares of the technology company's stock valued at $684,000 after purchasing an additional 1,275 shares during the period. Institutional investors own 84.04% of the company's stock.

Insider Activity

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

Generac Stock Up 0.5 %

GNRC stock traded up $0.84 during trading on Friday, reaching $161.12. The stock had a trading volume of 653,349 shares, compared to its average volume of 583,297. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. The company's 50 day moving average is $170.92 and its two-hundred day moving average is $160.76. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.59 and a beta of 1.42. 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 released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $1.64 EPS. The company's revenue was up 9.6% compared to the same quarter last year. Equities research analysts forecast that Generac Holdings Inc. will post 6.91 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Citigroup dropped their price objective on shares of Generac from $172.00 to $162.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. TD Cowen upped their price objective on shares of Generac from $172.00 to $183.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Piper Sandler upped their price objective on shares of Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, November 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.