Meridian Management Co. Buys 7,249 Shares of Generac Holdings Inc. (NYSE:GNRC)

Meridian Management Co. increased its stake in shares of Generac Holdings Inc. (NYSE:GNRCFree Report) by 43.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,856 shares of the technology company’s stock after acquiring an additional 7,249 shares during the period. Meridian Management Co.’s holdings in Generac were worth $3,028,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of Generac in the third quarter valued at approximately $28,000. BKM Wealth Management LLC bought a new stake in shares of Generac in the fourth quarter valued at approximately $28,000. ORG Partners LLC bought a new stake in shares of Generac in the fourth quarter valued at approximately $38,000. Operose Advisors LLC bought a new stake in shares of Generac in the third quarter valued at approximately $40,000. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Generac by 89.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock valued at $40,000 after buying an additional 147 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GNRC. Roth Mkm upped their target price on Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. TD Cowen dropped their price target on Generac from $165.00 to $144.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Guggenheim cut Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research note on Thursday. Finally, UBS Group dropped their price target on Generac from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Generac currently has an average rating of “Hold” and an average target price of $141.05.

Get Our Latest Stock Analysis on Generac

Insiders Place Their Bets

In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now directly owns 19,815 shares of the company’s stock, valued at $2,889,027. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total transaction of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares in the company, valued at approximately $82,175,421.15. The disclosure for this sale can be found here. Insiders sold 80,785 shares of company stock valued at $11,688,161 over the last three months. Insiders own 2.80% of the company’s stock.

Generac Stock Performance

Generac stock traded down $2.86 during mid-day trading on Thursday, reaching $146.63. The company’s stock had a trading volume of 263,863 shares, compared to its average volume of 1,055,736. Generac Holdings Inc. has a 12-month low of $79.86 and a 12-month high of $156.95. The company has a market capitalization of $8.89 billion, a P/E ratio of 41.18, a PEG ratio of 2.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The firm’s fifty day moving average price is $135.74 and its two-hundred day moving average price is $124.60.

Generac (NYSE:GNRCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that Generac Holdings Inc. will post 6.08 EPS for the current fiscal year.

About Generac

(Free Report)

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.

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Institutional Ownership by Quarter for Generac (NYSE:GNRC)

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