Envestnet Asset Management Inc. Buys 6,933 Shares of Generac Holdings Inc. (NYSE:GNRC)

Envestnet Asset Management Inc. increased its position in Generac Holdings Inc. (NYSE:GNRC) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 542,197 shares of the technology company’s stock after acquiring an additional 6,933 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Generac were worth $84,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GNRC. Modus Advisors LLC bought a new stake in shares of Generac during the 4th quarter valued at about $27,000. Versant Capital Management Inc raised its stake in Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after purchasing an additional 145 shares in the last quarter. Cranbrook Wealth Management LLC bought a new stake in Generac during the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust purchased a new position in Generac in the 4th quarter worth approximately $31,000. Finally, Spire Wealth Management increased its holdings in shares of Generac by 203.6% in the 4th quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock worth $39,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

GNRC opened at $101.86 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The stock has a market capitalization of $6.07 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. The stock’s 50 day moving average price is $134.14 and its 200-day moving average price is $156.20. Generac Holdings Inc. has a 52-week low of $100.55 and a 52-week high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, equities research analysts predict that Generac Holdings Inc. will post 8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GNRC shares. Citigroup dropped their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Truist Financial decreased their price objective on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group cut their target price on Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, UBS Group lifted their price target on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.60.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

Generac 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.