Fiduciary Alliance LLC Purchases 1,162 Shares of Generac Holdings Inc. (NYSE:GNRC)

Fiduciary Alliance LLC raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 51.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,405 shares of the technology company’s stock after purchasing an additional 1,162 shares during the period. Fiduciary Alliance LLC’s holdings in Generac were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Arizona State Retirement System grew its holdings in Generac by 2.6% during the 4th quarter. Arizona State Retirement System now owns 17,400 shares of the technology company’s stock worth $2,249,000 after acquiring an additional 433 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Generac during the fourth quarter valued at approximately $17,956,000. Arkadios Wealth Advisors increased its holdings in Generac by 120.2% during the fourth quarter. Arkadios Wealth Advisors now owns 4,852 shares of the technology company’s stock valued at $627,000 after buying an additional 2,649 shares during the period. Allworth Financial LP raised its stake in Generac by 69.2% in the fourth quarter. Allworth Financial LP now owns 2,472 shares of the technology company’s stock worth $319,000 after buying an additional 1,011 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in Generac by 121.1% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,958 shares of the technology company’s stock worth $1,158,000 after buying an additional 4,907 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Janney Montgomery Scott lowered Generac from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $126.00 to $154.00 in a research report on Thursday, June 13th. Northland Securities increased their price target on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $175.00 price objective (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Truist Financial boosted their price objective on shares of Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $154.71.

Insider Activity

In other Generac news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares of the company’s stock, valued at $2,889,027. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Generac news, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction dated 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 transaction, the insider now directly owns 19,815 shares of the company’s stock, valued at $2,889,027. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now directly owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders sold 75,785 shares of company stock worth $11,020,661 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Generac Stock Performance

Shares of NYSE GNRC traded down $2.59 during midday trading on Wednesday, reaching $137.05. 929,715 shares of the stock were exchanged, compared to its average volume of 1,009,435. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The firm has a 50-day simple moving average of $144.30 and a two-hundred day simple moving average of $132.81. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $169.57. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 1.93 and a beta of 1.37.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $1.08 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts anticipate that Generac Holdings Inc. will post 6.3 EPS for the current fiscal year.

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.