Chase Investment Counsel Corp Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Chase Investment Counsel Corp acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,972 shares of the technology company's stock, valued at approximately $4,285,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC increased its holdings 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 buying an additional 90 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock worth $27,000 after acquiring an additional 100 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock worth $34,000 after purchasing an additional 220 shares during the last quarter. Blue Trust Inc. lifted its position in Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock valued at $36,000 after purchasing an additional 97 shares during the period. Finally, Fairfield Financial Advisors LTD purchased a new stake in Generac in the second quarter valued at $38,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GNRC. StockNews.com raised Generac from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Northland Securities lifted their price objective on shares of Generac from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Generac from $139.00 to $156.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 1st. Citigroup lifted their price target on Generac from $128.00 to $172.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lowered their price target on Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.10.

Generac Trading Up 0.3 %

NYSE:GNRC traded up $0.53 during trading hours on Wednesday, hitting $190.85. The company had a trading volume of 439,757 shares, compared to its average volume of 955,305. Generac Holdings Inc. has a 1 year low of $106.72 and a 1 year high of $195.94. The company has a market cap of $11.36 billion, a P/E ratio of 40.26, a P/E/G ratio of 2.33 and a beta of 1.37. The company has a 50-day moving average of $161.47 and a 200 day moving average of $150.85. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Sell-side analysts expect that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Insider Activity at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction 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 sale, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company's stock, valued at $25,051,789.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. Insiders own 2.90% of the company's stock.

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.