Paloma Partners Management Co Invests $540,000 in Generac Holdings Inc. (NYSE:GNRC)

Paloma Partners Management Co purchased a new stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,400 shares of the technology company's stock, valued at approximately $540,000.

Other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH acquired a new position in Generac in the third quarter valued at $577,000. PDT Partners LLC acquired a new position in shares of Generac during the third quarter worth $1,093,000. Kingfisher Capital LLC lifted its position in shares of Generac by 45.8% during the third quarter. Kingfisher Capital LLC now owns 2,867 shares of the technology company's stock worth $456,000 after purchasing an additional 900 shares in the last quarter. Northwest & Ethical Investments L.P. raised its holdings in Generac by 25.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,750 shares of the technology company's stock valued at $278,000 after acquiring an additional 350 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Generac by 1.9% in the third quarter. Public Sector Pension Investment Board now owns 10,477 shares of the technology company's stock valued at $1,665,000 after acquiring an additional 200 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of GNRC stock traded down $4.27 on Wednesday, reaching $182.59. The company's stock had a trading volume of 934,361 shares, compared to its average volume of 938,363. The stock's fifty day simple moving average is $175.16 and its 200-day simple moving average is $156.21. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94. 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 company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.30 and a beta of 1.39.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating 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 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 previous year, the company posted $1.64 earnings per share. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now owns 10,738 shares of the company's stock, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, 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 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 three months. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GNRC shares. Barclays initiated coverage on shares of Generac in a research report on Wednesday. They set an "equal weight" rating and a $189.00 price target for the company. StockNews.com raised shares of Generac from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Truist Financial increased their price target on shares of Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, Citigroup raised their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. One 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.30.

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.