Generac Holdings Inc. (NYSE:GNRC) Shares Bought by Belpointe Asset Management LLC

Posted by Defense World Staff on May 15th, 2023

Belpointe Asset Management LLC grew its position in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 103.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,574 shares of the technology company’s stock after purchasing an additional 1,815 shares during the period. Belpointe Asset Management LLC’s holdings in Generac were worth $360,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Continental Investors Services Inc. purchased a new position in Generac in the third quarter valued at $220,000. Greenleaf Trust raised its holdings in Generac by 12.8% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the technology company’s stock worth $444,000 after purchasing an additional 499 shares during the period. Advisors Capital Management LLC purchased a new position in Generac during the third quarter worth approximately $4,504,000. Cubic Asset Management LLC acquired a new stake in Generac in the fourth quarter valued at approximately $337,000. Finally, Ulland Investment Advisors LLC lifted its position in shares of Generac by 135.4% during the 4th quarter. Ulland Investment Advisors LLC now owns 1,017 shares of the technology company’s stock valued at $102,000 after buying an additional 585 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on GNRC. Guggenheim cut shares of Generac from a “buy” rating to a “neutral” rating in a research note on Friday, February 3rd. Bank of America lowered Generac from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $141.00 to $91.00 in a research note on Friday, March 31st. Scotiabank began coverage on Generac in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 price objective on the stock. Janney Montgomery Scott lowered shares of Generac from a “buy” rating to a “neutral” rating in a report on Tuesday, February 21st. Finally, Canaccord Genuity Group raised shares of Generac from a “hold” rating to a “buy” rating and raised their price target for the stock from $104.00 to $175.00 in a research note on Thursday, February 16th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Generac has an average rating of “Hold” and an average price target of $180.17.

Generac Stock Down 0.4 %

Shares of NYSE:GNRC opened at $111.49 on Monday. Generac Holdings Inc. has a twelve month low of $86.29 and a twelve month high of $299.85. The company has a market capitalization of $6.93 billion, a PE ratio of 28.44, a P/E/G ratio of 1.90 and a beta of 1.16. The firm has a 50 day simple moving average of $108.30 and a 200-day simple moving average of $108.46. The company has a current ratio of 2.40, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65.

Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. Generac had a return on equity of 19.63% and a net margin of 6.91%. The business had revenue of $887.90 million during the quarter, compared to analysts’ expectations of $850.07 million. During the same period last year, the firm earned $2.09 EPS. The company’s quarterly revenue was down 21.8% compared to the same quarter last year. On average, equities analysts predict that Generac Holdings Inc. will post 6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $109.48, for a total value of $547,400.00. Following the completion of the transaction, the chief executive officer now directly owns 627,690 shares in the company, valued at $68,719,501.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 55,207 shares of company stock valued at $6,454,560 in the last ninety days. Insiders own 2.80% of the company’s stock.

Generac Company Profile

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.