2,000 Shares in Generac Holdings Inc. (NYSE:GNRC) Acquired by Steel Peak Wealth Management LLC

Posted by Defense World Staff on Apr 6th, 2023

Steel Peak Wealth Management LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the technology company’s stock, valued at approximately $201,000.

A number of other large investors have also added to or reduced their stakes in the stock. Fairfield Bush & CO. lifted its stake in Generac by 83.2% during the first quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock worth $2,111,000 after purchasing an additional 3,225 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Generac by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,442 shares of the technology company’s stock worth $2,509,000 after purchasing an additional 523 shares during the last quarter. Prudential PLC bought a new stake in Generac during the first quarter worth $441,000. National Pension Service lifted its stake in Generac by 12.8% during the first quarter. National Pension Service now owns 98,555 shares of the technology company’s stock worth $29,296,000 after purchasing an additional 11,158 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Generac by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after purchasing an additional 130,854 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $109.48, for a total value of $547,400.00. Following the completion of the transaction, the chief executive officer now directly owns 627,690 shares of the company’s stock, valued at $68,719,501.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of research reports. Stephens increased their price target on Generac from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 21st. Janney Montgomery Scott cut Generac from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 21st. Scotiabank initiated coverage on Generac in a research note on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 price target for the company. Stifel Nicolaus increased their price target on Generac from $98.00 to $130.00 in a research note on Thursday, February 16th. Finally, Guggenheim cut Generac from a “buy” rating to a “neutral” rating in a research note on Friday, February 3rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $194.46.

Generac Trading Down 2.2 %

Shares of GNRC stock opened at $99.57 on Thursday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.20 and a quick ratio of 0.78. Generac Holdings Inc. has a 1 year low of $86.29 and a 1 year high of $308.92. The company’s fifty day simple moving average is $117.46 and its two-hundred day simple moving average is $118.58.

Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.08. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion. Generac had a net margin of 8.75% and a return on equity of 23.82%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 earnings per share. As a group, analysts anticipate that Generac Holdings Inc. will post 6.22 earnings per share for the current year.

About Generac

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.