Jacobs Levy Equity Management Inc. Purchases New Stake in Generac Holdings Inc. (NYSE:GNRC)

Jacobs Levy Equity Management Inc. purchased a new position in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,833 shares of the technology company's stock, valued at approximately $450,000.

A number of other hedge funds have also modified their holdings of GNRC. Empirical Finance LLC grew its position in Generac by 4.1% in the third quarter. Empirical Finance LLC now owns 1,689 shares of the technology company's stock worth $268,000 after acquiring an additional 66 shares during the period. Duncker Streett & Co. Inc. boosted its position in shares of Generac by 2.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company's stock worth $388,000 after purchasing an additional 68 shares during the period. Johnson Investment Counsel Inc. lifted its stake in Generac by 0.3% during the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company's stock worth $2,981,000 after purchasing an additional 75 shares in the last quarter. Nicollet Investment Management Inc. grew its stake in shares of Generac by 1.1% in the third quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company's stock valued at $1,250,000 after buying an additional 82 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Generac by 6.5% in the 3rd quarter. Mather Group LLC. now owns 1,528 shares of the technology company's stock valued at $243,000 after buying an additional 93 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Stock Performance

Shares of NYSE GNRC traded down $4.68 during midday trading on Tuesday, reaching $172.23. 393,402 shares of the company were exchanged, compared to its average volume of 934,720. The stock has a fifty day simple moving average of $176.57 and a 200 day simple moving average of $156.85. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a market cap of $10.25 billion, a P/E ratio of 36.69, a PEG ratio of 2.18 and a beta of 1.39. 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 released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company's quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts forecast that Generac Holdings Inc. will post 6.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GNRC shares. JPMorgan Chase & Co. upped their target price on shares of Generac from $160.00 to $178.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price target on Generac from $148.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Citigroup boosted their price objective on Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. StockNews.com raised shares of Generac from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Finally, Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Generac presently has an average rating of "Moderate Buy" and a consensus target price of $175.30.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business'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 transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company's stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 over the last quarter. Corporate insiders own 2.90% of the company's stock.

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.