Hodges Capital Management Inc. Boosts Stake in Generac Holdings Inc. (NYSE:GNRC)

Hodges Capital Management Inc. increased its stake in Generac Holdings Inc. (NYSE:GNRC) by 86.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,278 shares of the technology company’s stock after acquiring an additional 77,296 shares during the period. Generac comprises approximately 1.7% of Hodges Capital Management Inc.’s portfolio, making the stock its 14th largest position. Hodges Capital Management Inc. owned about 0.28% of Generac worth $26,418,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC increased its position in shares of Generac by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock valued at $268,000 after purchasing an additional 66 shares during the last quarter. Duncker Streett & Co. Inc. grew its position in Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after acquiring an additional 68 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in Generac by 0.3% during the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock valued at $2,981,000 after acquiring an additional 75 shares during the last quarter. Nicollet Investment Management Inc. raised its stake in shares of Generac by 1.1% during the third quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock worth $1,250,000 after acquiring an additional 82 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Generac by 6.5% in the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock worth $243,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is owned by insiders.

Generac Trading Down 0.4 %

Shares of NYSE:GNRC opened at $179.22 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac Holdings Inc. has a 1 year low of $108.89 and a 1 year high of $195.94. The company has a market cap of $10.66 billion, a P/E ratio of 37.18, a PEG ratio of 2.22 and a beta of 1.39. The stock’s fifty day moving average price is $176.21 and its 200-day moving average price is $156.59.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $1.64 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Generac Holdings Inc. will post 6.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GNRC shares. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Barclays began coverage on shares of Generac in a research note on Wednesday. They set an “equal weight” rating and a $189.00 price objective for the company. Truist Financial increased their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler increased their price objective on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.30.

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.