Wright Investors Service Inc. Takes $602,000 Position in Generac Holdings Inc. $GNRC

Wright Investors Service Inc. acquired a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,594 shares of the technology company’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Generac by 81.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock valued at $25,000 after buying an additional 77 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Generac during the 2nd quarter worth approximately $25,000. First Horizon Corp bought a new position in shares of Generac during the 3rd quarter worth approximately $28,000. Creative Capital Management Investments LLC lifted its position in Generac by 740.7% during the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in Generac in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GNRC shares. Wells Fargo & Company set a $195.00 price target on Generac in a research report on Friday, December 19th. Wall Street Zen lowered Generac from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Needham & Company LLC initiated coverage on Generac in a research note on Monday. They issued a “buy” rating and a $211.00 price target for the company. Barclays boosted their price target on Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, Baird R W upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $195.94.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total transaction of $832,150.00. Following the completion of the sale, the chief executive officer directly owned 542,966 shares in the company, valued at approximately $90,365,831.38. The trade was a 0.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Generac Stock Up 1.1%

Generac stock opened at $162.04 on Friday. The business’s 50-day simple moving average is $150.14 and its two-hundred day simple moving average is $166.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. The company has a market cap of $9.51 billion, a PE ratio of 30.86, a PEG ratio of 1.31 and a beta of 1.82. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $203.25.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.42). The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Generac had a return on equity of 17.63% and a net margin of 6.92%.The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 earnings per share. Equities analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current year.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.