Concurrent Investment Advisors LLC Acquires Shares of 3,105 Generac Holdings Inc. $GNRC

Concurrent Investment Advisors LLC bought a new position in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,105 shares of the technology company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds have also made changes to their positions in GNRC. DAVENPORT & Co LLC boosted its stake in shares of Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after purchasing an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Generac in the third quarter worth about $70,744,000. Strs Ohio increased its stake in Generac by 583.4% in the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock worth $9,725,000 after buying an additional 49,595 shares during the period. Envestnet Asset Management Inc. boosted its position in Generac by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock valued at $100,031,000 after buying an additional 15,280 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Generac by 30.5% in the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock valued at $14,501,000 after buying an additional 20,270 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Generac Stock Down 1.0%

Generac stock opened at $256.78 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The firm has a market cap of $15.07 billion, a P/E ratio of 80.49, a P/E/G ratio of 2.49 and a beta of 1.93. The business has a fifty day moving average of $211.52 and a two-hundred day moving average of $181.74. Generac Holdings Inc. has a twelve month low of $113.50 and a twelve month high of $261.85.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, analysts forecast that Generac Holdings Inc. will post 8.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GNRC shares. Canaccord Genuity Group raised their target price on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm restated a “neutral” rating and set a $257.00 price objective on shares of Generac in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. TD Cowen upped their target price on Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.81.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.