KCM Investment Advisors LLC Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on Apr 16th, 2023

KCM Investment Advisors LLC acquired a new position in Generac Holdings Inc. (NYSE:GNRC – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,875 shares of the technology company’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Meiji Yasuda Life Insurance Co increased its holdings in shares of Generac by 3.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 1,448 shares of the technology company’s stock valued at $430,000 after acquiring an additional 48 shares in the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Generac by 3.3% during the first quarter. Vident Investment Advisory LLC now owns 2,099 shares of the technology company’s stock valued at $622,000 after acquiring an additional 68 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Generac by 72.9% during the third quarter. IAG Wealth Partners LLC now owns 204 shares of the technology company’s stock valued at $36,000 after acquiring an additional 86 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Generac by 7.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,294 shares of the technology company’s stock valued at $272,000 after acquiring an additional 90 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its position in shares of Generac by 7.3% during the third quarter. YorkBridge Wealth Partners LLC now owns 1,359 shares of the technology company’s stock valued at $242,000 after buying an additional 93 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

Generac Stock Down 1.7 %

NYSE GNRC opened at $101.73 on Friday. The stock’s 50-day moving average price is $114.75 and its 200-day moving average price is $114.68. The company has a quick ratio of 0.78, a current ratio of 2.20 and a debt-to-equity ratio of 0.61. Generac Holdings Inc. has a 52 week low of $86.29 and a 52 week high of $299.85. The company has a market capitalization of $6.30 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.68 and a beta of 1.16.

Generac (NYSE:GNRC – Get Rating) last issued its 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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.07 billion. Generac had a return on equity of 23.82% and a net margin of 8.75%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $2.51 EPS. On average, equities research analysts predict that Generac Holdings Inc. will post 6.07 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 45,207 shares of Generac stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $119.37, for a total transaction of $5,396,359.59. Following the sale, the chief executive officer now owns 615,269 shares of the company’s stock, valued at approximately $73,444,660.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GNRC. Canaccord Genuity Group raised Generac from a “hold” rating to a “buy” rating and increased their price objective for the company from $104.00 to $175.00 in a research report on Thursday, February 16th. Citigroup cut Generac from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $380.00 to $140.00 in a research report on Friday, March 10th. Stephens increased their price objective on Generac from $125.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 21st. UBS Group dropped their price objective on Generac from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, February 16th. Finally, StockNews.com started coverage on Generac in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $194.46.

Generac Profile

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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.