Darden Wealth Group Inc Invests $273,000 in Generac Holdings Inc. $GNRC

Darden Wealth Group Inc acquired a new position in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the technology company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its stake in Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after acquiring an additional 16,229 shares during the period. Strs Ohio grew its stake in shares of Generac by 583.4% in the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after purchasing an additional 49,595 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Generac by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock valued at $100,031,000 after purchasing an additional 15,280 shares during the period. Kayne Anderson Capital Advisors LP bought a new stake in shares of Generac in the 3rd quarter valued at approximately $2,159,000. Finally, Lighthouse Investment Partners LLC grew its stake in shares of Generac by 556.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock valued at $8,689,000 after purchasing an additional 43,999 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GNRC. Jefferies Financial Group raised Generac from a “hold” rating to a “buy” rating and boosted their target price for the stock from $239.00 to $302.00 in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Roth Mkm reiterated a “neutral” rating and set a $257.00 target price on shares of Generac in a research report on Thursday, April 30th. TD Cowen upped their price objective on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $276.88.

Generac Trading Up 9.2%

Shares of NYSE:GNRC opened at $270.50 on Friday. The company has a 50-day simple moving average of $222.78 and a 200 day simple moving average of $189.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The company has a market capitalization of $15.92 billion, a P/E ratio of 84.80, a price-to-earnings-growth ratio of 2.53 and a beta of 1.93. Generac Holdings Inc. has a 52-week low of $118.09 and a 52-week high of $276.80.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Sell-side analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.