Oppenheimer Asset Management Inc. Acquires 6,872 Shares of Generac Holdings Inc. (NYSE:GNRC)

Oppenheimer Asset Management Inc. boosted its holdings in Generac Holdings Inc. (NYSE:GNRC) by 181.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,650 shares of the technology company’s stock after purchasing an additional 6,872 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Generac were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of GNRC. Pinnacle Financial Partners Inc increased its position in Generac by 3.8% during the third quarter. Pinnacle Financial Partners Inc now owns 49,446 shares of the technology company’s stock worth $7,856,000 after acquiring an additional 1,826 shares during the period. Chase Investment Counsel Corp acquired a new stake in Generac in the 3rd quarter worth $4,285,000. Barnett & Company Inc. increased its holdings in shares of Generac by 18.8% during the 3rd quarter. Barnett & Company Inc. now owns 21,525 shares of the technology company’s stock worth $3,420,000 after purchasing an additional 3,400 shares during the period. Aigen Investment Management LP acquired a new position in shares of Generac during the third quarter valued at about $358,000. Finally, Meridian Management Co. grew its position in Generac by 1.0% during the third quarter. Meridian Management Co. now owns 33,934 shares of the technology company’s stock worth $5,391,000 after buying an additional 334 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,268 shares of company stock valued at $7,584,853. Corporate insiders own 2.90% of the company’s stock.

Generac Stock Down 2.4 %

NYSE:GNRC opened at $181.82 on Monday. The stock’s fifty day simple moving average is $164.01 and its 200-day simple moving average is $151.79. The firm has a market capitalization of $10.82 billion, a P/E ratio of 37.72, a P/E/G ratio of 2.23 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $1.64 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts expect that Generac Holdings Inc. will post 6.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several recent research reports. Truist Financial upped their price target on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Stifel Nicolaus reiterated a “buy” rating and set a $175.00 price target (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. Citigroup increased their price objective on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price target on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.21.

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.