Generac Holdings Inc. (NYSE:GNRC) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC raised its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 2,060.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,191 shares of the technology company's stock after purchasing an additional 17,349 shares during the quarter. Icon Wealth Advisors LLC's holdings in Generac were worth $2,890,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Raymond James Trust N.A. lifted its holdings in shares of Generac by 52.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company's stock valued at $541,000 after acquiring an additional 1,177 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Generac by 61.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 545 shares of the technology company's stock valued at $87,000 after acquiring an additional 207 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Generac by 10.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,667 shares of the technology company's stock valued at $1,059,000 after acquiring an additional 625 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Generac during the 3rd quarter valued at $3,300,000. Finally, Jennison Associates LLC acquired a new position in shares of Generac during the 3rd quarter valued at $45,722,000. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares of the company's stock, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company's stock, valued at approximately $1,971,282.04. This 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 quarter. Insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GNRC. TD Cowen lifted their target price on shares of Generac from $172.00 to $183.00 and gave the company a "buy" rating in a report on Friday, November 1st. The Goldman Sachs Group boosted 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. Citigroup boosted their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of Generac from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Robert W. Baird cut 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.58.

Generac Stock Performance

Shares of NYSE:GNRC traded up $5.56 during trading on Friday, reaching $189.08. 859,380 shares of the company's stock traded hands, compared to its average volume of 915,131. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a 50 day moving average of $168.12 and a 200-day moving average of $153.44. The stock has a market capitalization of $11.25 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37.

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 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current year.

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.