Smith Group Asset Management LLC Acquires New Stake in Generac Holdings Inc. (NYSE:GNRC)

Smith Group Asset Management LLC bought a new position in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,840 shares of the technology company's stock, valued at approximately $440,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. grew its stake in Generac by 52.8% in 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 during the period. Willis Investment Counsel raised its stake in shares of Generac by 18.7% during the third quarter. Willis Investment Counsel now owns 105,007 shares of the technology company's stock worth $16,684,000 after purchasing an additional 16,541 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Generac during the fourth quarter worth approximately $5,229,000. Global Financial Private Client LLC purchased a new position in Generac in the fourth quarter worth $614,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Generac by 85.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company's stock worth $928,000 after acquiring an additional 3,244 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several research analyst reports. TD Cowen increased their price objective on Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Generac from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Barclays assumed coverage on Generac in a research report on Wednesday, December 4th. They issued an "equal weight" rating and a $189.00 price target for the company. Finally, StockNews.com upgraded Generac from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.30.

Generac Trading Up 1.6 %

Shares of Generac stock traded up $2.34 during trading hours on Thursday, reaching $150.46. The stock had a trading volume of 124,293 shares, compared to its average volume of 715,843. The firm has a 50 day simple moving average of $166.18 and a two-hundred day simple moving average of $161.49. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 1.60 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. 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 announced its earnings results 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 business had revenue of $1.17 billion for 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 company's revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 6.91 earnings per share for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the business'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 transaction, the chief financial officer now owns 135,613 shares of the company's stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,268 shares of company stock worth $7,577,703. 2.90% of the stock is currently owned by company insiders.

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.