Argent Trust Co Takes $450,000 Position in Generac Holdings Inc. (NYSE:GNRC)

Argent Trust Co acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,406 shares of the technology company’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in Generac during the 4th quarter valued at approximately $27,000. EntryPoint Capital LLC lifted its holdings in shares of Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after acquiring an additional 220 shares during the last quarter. Quarry LP grew its stake in Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after acquiring an additional 202 shares in the last quarter. Finally, Fairfield Financial Advisors LTD bought a new stake in Generac in the 2nd quarter valued at $38,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the transaction, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Roth Mkm lifted their price objective on Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their target price on Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Piper Sandler boosted their price target on shares of Generac from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $154.71.

Generac Stock Performance

Shares of Generac stock opened at $142.91 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $149.50 and its two-hundred day moving average is $139.31. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $169.57. The company has a market capitalization of $8.66 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. The company had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. As a group, analysts expect that Generac Holdings Inc. will post 6.52 earnings per share 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.