Generac Holdings Inc. $GNRC Shares Bought by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY raised its position in Generac Holdings Inc. (NYSE:GNRC) by 68.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,991 shares of the technology company’s stock after buying an additional 46,101 shares during the period. Matrix Asset Advisors Inc. NY owned about 0.19% of Generac worth $15,409,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GNRC. Invesco Ltd. increased its stake in shares of Generac by 40.9% in the 2nd quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock valued at $285,338,000 after purchasing an additional 577,933 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Generac during the third quarter worth approximately $70,744,000. Norges Bank acquired a new stake in Generac in the second quarter valued at approximately $53,138,000. Victory Capital Management Inc. grew its holdings in Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after purchasing an additional 324,809 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Generac by 63.5% in the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock valued at $107,314,000 after buying an additional 291,012 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Barclays upped their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Jefferies Financial Group started coverage on Generac in a research note on Friday, March 20th. They set a “hold” rating and a $222.00 price objective for the company. Roth Mkm reissued a “neutral” rating and set a $220.00 target price on shares of Generac in a report on Thursday, February 12th. Finally, Zacks Research upgraded Generac from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average price target of $229.94.

Generac Stock Performance

NYSE:GNRC opened at $198.99 on Thursday. The company’s 50-day moving average is $202.45 and its two-hundred day moving average is $175.87. Generac Holdings Inc. has a 1-year low of $99.50 and a 1-year high of $241.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 1.39 and a beta of 1.78.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. Analysts forecast that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Generac Profile

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.