Princeton Global Asset Management LLC lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 123.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163 shares of the technology company’s stock after buying an additional 90 shares during the period. Princeton Global Asset Management LLC’s holdings in Generac were worth $48,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GNRC. EverSource Wealth Advisors LLC acquired a new position in Generac during the 4th quarter valued at about $33,000. Key Financial Inc acquired a new position in Generac during the 1st quarter valued at about $29,000. Covestor Ltd acquired a new position in Generac during the 4th quarter valued at about $37,000. SJS Investment Consulting Inc. acquired a new position in Generac during the 1st quarter valued at about $35,000. Finally, American National Bank boosted its stake in Generac by 59.2% during the 1st quarter. American National Bank now owns 121 shares of the technology company’s stock valued at $36,000 after purchasing an additional 45 shares during the period. Institutional investors own 88.35% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on GNRC. Roth Capital reduced their target price on shares of Generac from $555.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. OTR Global lowered shares of Generac from a “mixed” rating to a “negative” rating in a research note on Friday, July 22nd. Guggenheim reduced their price target on shares of Generac from $561.00 to $455.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Wells Fargo & Company initiated coverage on shares of Generac in a research note on Wednesday, June 29th. They issued an “overweight” rating and a $285.00 price target for the company. Finally, Canaccord Genuity Group reduced their price target on shares of Generac from $556.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average price target of $424.71.
Generac Stock Down 2.2 %
Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.34. Generac had a net margin of 12.28% and a return on equity of 29.42%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $2.39 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 11.75 EPS for the current year.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the sale, the chief executive officer now owns 610,975 shares in the company, valued at $161,883,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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