Cerity Partners LLC Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

Cerity Partners LLC lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 0.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,984 shares of the technology company’s stock after purchasing an additional 176 shares during the period. Cerity Partners LLC’s holdings in Generac were worth $7,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James Trust N.A. boosted its holdings in Generac by 52.8% during the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after buying an additional 1,177 shares in the last quarter. Willis Investment Counsel boosted its stake in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after acquiring an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Generac by 85.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after acquiring an additional 3,244 shares during the period. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Generac in the 3rd quarter valued at approximately $3,742,000. Finally, Versor Investments LP acquired a new position in Generac during the third quarter worth $1,823,000. 84.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on GNRC. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus raised their target price on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Piper Sandler increased their price target on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Roth Mkm lifted their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group increased their target price on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.58.

Insider Buying and Selling at Generac

In other Generac news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,268 shares of company stock valued at $7,584,853. Company insiders own 2.90% of the company’s stock.

Generac Price Performance

GNRC opened at $190.40 on Thursday. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94. The company’s 50 day simple moving average is $170.09 and its 200 day simple moving average is $154.43. The stock has a market capitalization of $11.33 billion, a PE ratio of 39.50, a P/E/G ratio of 2.35 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $1.64 EPS. As a group, sell-side analysts expect that Generac Holdings Inc. will post 6.8 EPS for the current year.

About Generac

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.