Redwood Grove Capital LLC Raises Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Redwood Grove Capital LLC lifted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 17.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 141,438 shares of the technology company's stock after purchasing an additional 20,856 shares during the quarter. Generac accounts for approximately 6.1% of Redwood Grove Capital LLC's holdings, making the stock its 2nd biggest holding. Redwood Grove Capital LLC owned approximately 0.24% of Generac worth $22,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GNRC. Sunbelt Securities Inc. lifted its position in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock worth $27,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group acquired a new position in Generac during the 3rd quarter worth about $31,000. SouthState Corp acquired a new position in Generac during the 3rd quarter worth about $32,000. Capital Advisors Ltd. LLC lifted its position in Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock valued at $34,000 after purchasing an additional 220 shares during the period. Finally, Blue Trust Inc. lifted its position in Generac by 73.5% during the 3rd 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. Institutional investors and hedge funds own 84.04% of the company's stock.

Insider Buying and Selling at Generac

In other 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 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. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now directly owns 557,177 shares of the company's stock, valued at $92,825,688.20. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock valued at $7,584,853 in the last quarter. 2.90% of the stock is currently owned by insiders.

Generac Stock Down 1.4 %

Shares of GNRC traded down $2.57 during mid-day trading on Thursday, hitting $180.00. 567,267 shares of the company's stock were exchanged, compared to its average volume of 936,785. The company has a market cap of $10.71 billion, a PE ratio of 37.34, a P/E/G ratio of 2.29 and a beta of 1.39. Generac Holdings Inc. has a 52 week low of $108.89 and a 52 week high of $195.94. The company has a 50-day simple moving average of $175.72 and a 200 day simple moving average of $156.38. 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 (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, research analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GNRC. Roth Mkm upped their target price on shares of Generac from $160.00 to $175.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Piper Sandler upped their target price on shares of Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Robert W. Baird cut their target price 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. StockNews.com upgraded shares of Generac from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Finally, Citigroup upped their target price on shares of Generac from $128.00 to $172.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.