Ellsworth Advisors LLC Acquires Shares of 27,222 Generac Holdings Inc. (NYSE:GNRC)

Ellsworth Advisors LLC acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,222 shares of the technology company’s stock, valued at approximately $4,221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNRC. Sunbelt Securities Inc. boosted its stake in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Generac during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after buying an additional 145 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in Generac in the 4th quarter valued at $28,000. Finally, Brooklyn Investment Group bought a new position in Generac during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

Shares of Generac stock opened at $161.12 on Monday. The company’s fifty day simple moving average is $170.92 and its two-hundred day simple moving average is $160.92. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a market cap of $9.59 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. As a group, equities analysts expect that Generac Holdings Inc. will post 6.91 EPS for the current year.

Insider Buying and Selling

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now owns 570,825 shares in the company, valued at $89,904,937.50. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock valued at $7,577,703 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several analyst reports. Barclays started coverage on shares of Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen upped their target price on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird cut their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Piper Sandler raised their target price on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.30.

Generac 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.