Cornerstone Wealth Management LLC acquired a new position in Generac Holdings Inc. (NYSE:GNRC – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,428 shares of the technology company’s stock, valued at approximately $227,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in shares of Generac in the second quarter worth $98,282,000. Wellington Management Group LLP lifted its position in Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after acquiring an additional 318,664 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Generac by 21.4% in the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after purchasing an additional 74,115 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.
Generac Trading Down 0.7 %
GNRC stock opened at $167.28 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $176.14. The business has a 50 day simple moving average of $153.90 and a two-hundred day simple moving average of $146.00. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 46.08, a PEG ratio of 2.22 and a beta of 1.38.
Analysts Set New Price Targets
GNRC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler boosted their price objective on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird raised their price target on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Truist Financial upped their price objective on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.43.
Get Our Latest Research Report on Generac
Insider Transactions at Generac
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.
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.
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