Econ Financial Services Corp Invests $580,000 in Generac Holdings Inc. (NYSE:GNRC)

Econ Financial Services Corp acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,741 shares of the technology company’s stock, valued at approximately $580,000.

A number of other institutional investors have also recently added to or reduced their stakes in GNRC. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Generac by 38.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,116 shares of the technology company’s stock valued at $952,000 after acquiring an additional 1,692 shares during the period. Calamos Advisors LLC grew its position in Generac by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 59,675 shares of the technology company’s stock worth $9,253,000 after purchasing an additional 930 shares during the last quarter. abrdn plc increased its stake in shares of Generac by 96.1% in the fourth quarter. abrdn plc now owns 9,009 shares of the technology company’s stock valued at $1,397,000 after purchasing an additional 4,416 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Generac by 1.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 158,072 shares of the technology company’s stock valued at $24,509,000 after buying an additional 2,500 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock worth $104,227,000 after buying an additional 384,434 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen raised their price target on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm boosted their price target on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Robert W. Baird dropped their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $174.30.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now owns 570,825 shares in the company, valued at $89,904,937.50. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.90% of the company’s stock.

Generac Price Performance

NYSE GNRC opened at $142.30 on Wednesday. The company has a 50 day simple moving average of $162.81 and a 200-day simple moving average of $161.23. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

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.