Avantax Advisory Services Inc. Lowers Holdings in Generac Holdings Inc. (NYSE:GNRC)

Avantax Advisory Services Inc. lowered its holdings in Generac Holdings Inc. (NYSE:GNRC) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,788 shares of the technology company’s stock after selling 324 shares during the period. Avantax Advisory Services Inc.’s holdings in Generac were worth $353,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GNRC. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Generac during the first quarter worth $28,000. Quadrant Capital Group LLC increased its stake in shares of Generac by 61.7% during the fourth quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company’s stock worth $35,000 after buying an additional 87 shares during the period. Private Trust Co. NA grew its holdings in Generac by 42.9% during the 1st quarter. Private Trust Co. NA now owns 300 shares of the technology company’s stock worth $38,000 after acquiring an additional 90 shares in the last quarter. Ostrum Asset Management purchased a new stake in shares of Generac in the 4th quarter valued at approximately $50,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Generac in the 1st quarter valued at $76,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of NYSE GNRC opened at $193.43 on Friday. The stock has a fifty day moving average price of $147.65 and a 200 day moving average price of $135.62. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $199.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The company has a market cap of $11.43 billion, a PE ratio of 32.13, a P/E/G ratio of 1.54 and a beta of 1.68.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.35 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays set a $200.00 target price on Generac and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Roth Capital upped their target price on shares of Generac from $122.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Guggenheim raised shares of Generac from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Tuesday, July 29th. Piper Sandler reduced their price target on shares of Generac from $175.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Stifel Nicolaus lifted their target price on Generac from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus target price of $174.28.

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.