Hedeker Wealth LLC Buys New Shares in Generac Holdings Inc. (NYSE:GNRC)

Hedeker Wealth LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,086 shares of the technology company’s stock, valued at approximately $4,804,000. Generac accounts for 1.4% of Hedeker Wealth LLC’s holdings, making the stock its 26th largest position. Hedeker Wealth LLC owned approximately 0.06% of Generac at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GNRC. LPL Financial LLC lifted its holdings in Generac by 28.8% in the third quarter. LPL Financial LLC now owns 89,474 shares of the technology company’s stock valued at $9,749,000 after buying an additional 19,985 shares during the period. Mariner LLC increased its stake in Generac by 17.3% in the third quarter. Mariner LLC now owns 5,566 shares of the technology company’s stock valued at $606,000 after purchasing an additional 822 shares in the last quarter. Trexquant Investment LP bought a new stake in Generac in the third quarter valued at $779,000. Treasurer of the State of North Carolina increased its stake in Generac by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the technology company’s stock valued at $2,911,000 after purchasing an additional 140 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Generac by 157.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,817 shares of the technology company’s stock valued at $525,000 after purchasing an additional 2,947 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

GNRC traded up $0.46 during midday trading on Wednesday, reaching $137.76. The company had a trading volume of 56,492 shares, compared to its average volume of 1,002,438. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The stock has a market cap of $8.35 billion, a PE ratio of 37.58, a P/E/G ratio of 1.79 and a beta of 1.37. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The business has a 50-day moving average price of $140.16 and a two-hundred day moving average price of $128.25.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The firm had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, sell-side analysts expect that Generac Holdings Inc. will post 6.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group lifted their price target on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Oppenheimer downgraded shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $126.00 to $154.00 in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Generac presently has a consensus rating of “Hold” and an average price target of $141.67.

Insider Buying and Selling at Generac

In other Generac news, EVP Erik Wilde sold 4,384 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total value of $675,311.36. Following the transaction, the executive vice president now directly owns 17,897 shares in the company, valued at $2,756,853.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares in the company, valued at approximately $2,889,027. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Erik Wilde sold 4,384 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total transaction of $675,311.36. Following the sale, the executive vice president now owns 17,897 shares in the company, valued at $2,756,853.88. The disclosure for this sale can be found here. Insiders have sold a total of 75,785 shares of company stock worth $11,053,461 over the last three months. 2.80% of the stock is currently owned by 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.