Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC boosted its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 170.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,478 shares of the technology company's stock after purchasing an additional 2,823 shares during the period. Greenwood Capital Associates LLC's holdings in Generac were worth $711,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GNRC. Asset Management One Co. Ltd. raised its stake in shares of Generac by 23.7% in the third quarter. Asset Management One Co. Ltd. now owns 1,147 shares of the technology company's stock worth $182,000 after buying an additional 220 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Generac during the 3rd quarter worth approximately $3,346,000. Fernwood Investment Management LLC lifted its holdings in Generac by 10.8% during the third quarter. Fernwood Investment Management LLC now owns 20,819 shares of the technology company's stock valued at $3,308,000 after purchasing an additional 2,025 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Generac by 3.7% in the third quarter. Janney Montgomery Scott LLC now owns 49,858 shares of the technology company's stock worth $7,921,000 after purchasing an additional 1,782 shares during the period. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Generac by 1.0% in the third quarter. Conestoga Capital Advisors LLC now owns 155,572 shares of the technology company's stock worth $24,717,000 after purchasing an additional 1,573 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Up 0.9 %

Shares of GNRC traded up $1.69 during mid-day trading on Wednesday, hitting $183.50. 2,281,912 shares of the company traded hands, compared to its average volume of 960,421. The business has a 50 day moving average of $157.94 and a 200 day moving average of $149.02. The company has a market capitalization of $11.04 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. 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 Holdings Inc. has a 1-year low of $100.23 and a 1-year high of $188.30.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly 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 net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the company posted $1.64 earnings per share. The business's quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Generac Holdings Inc. will post 6.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GNRC shares. Piper Sandler upped their target price on shares of Generac from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Wells Fargo & Company increased their target price on Generac from $139.00 to $156.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Generac from $128.00 to $172.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. TD Cowen upped their price target on Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Robert W. Baird reduced their price objective on shares of Generac from $187.00 to $181.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. One research 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. Based on data from MarketBeat.com, Generac currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.10.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company's stock.

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.