Simplicity Wealth LLC Takes Position in Generac Holdings Inc. $GNRC

Simplicity Wealth LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,665 shares of the technology company’s stock, valued at approximately $780,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nicollet Investment Management Inc. raised its stake in shares of Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after buying an additional 50 shares in the last quarter. Root Financial Partners LLC raised its position in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares in the last quarter. Gen Wealth Partners Inc lifted its holdings in Generac by 8.7% in the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock valued at $92,000 after acquiring an additional 54 shares during the period. Meridian Financial Partners LLC grew its stake in shares of Generac by 0.6% during the 4th quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 61 shares during the period. Finally, Essential Partners LLC increased its holdings in shares of Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GNRC shares. Roth Capital set a $214.00 target price on shares of Generac in a research report on Thursday, July 30th. Argus lifted their price objective on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup boosted their target price on Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. TD Cowen restated a “buy” rating on shares of Generac in a research report on Monday, July 20th. Finally, UBS Group boosted their price objective on shares of Generac from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $284.84.

Insiders Place Their Bets

In related news, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the transaction, the insider directly owned 15,508 shares in the company, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares in the company, valued at approximately $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,236 shares of company stock valued at $2,871,273 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Generac Stock Performance

NYSE:GNRC opened at $219.58 on Monday. The firm has a 50 day simple moving average of $238.22 and a 200-day simple moving average of $228.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm has a market cap of $12.96 billion, a PE ratio of 50.59, a P/E/G ratio of 1.88 and a beta of 1.92. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. Generac’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. On average, equities analysts expect that Generac Holdings Inc. will post 9.72 EPS for the current year.

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.