Quest Partners LLC Purchases 6,556 Shares of Generac Holdings Inc. (NYSE:GNRC)

Quest Partners LLC raised its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 655,600.0% in the third quarter, Holdings Channel reports. The firm owned 6,557 shares of the technology company’s stock after acquiring an additional 6,556 shares during the quarter. Quest Partners LLC’s holdings in Generac were worth $1,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Generac by 2.1% during the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock worth $155,207,000 after acquiring an additional 25,646 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Generac during the second quarter valued at $98,282,000. Dimensional Fund Advisors LP grew its holdings in Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares during the period. Ninety One UK Ltd increased its position in Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after buying an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

Generac stock opened at $180.19 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 moving average is $165.55 and its 200 day moving average is $152.66. The firm has a market capitalization of $10.72 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current year.

Analysts Set New Price Targets

GNRC has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group raised their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler boosted their target price on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.05.

Insider Transactions at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by insiders.

Generac Company 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.