6,807 Generac Holdings Inc. $GNRC Shares Purchased by Courier Capital LLC

Key Points

• Courier Capital increased its Generac stake by 170.3% in the third quarter, purchasing 6,807 additional shares and bringing its holdings to 10,804 shares valued at approximately $2.24 million.
• Institutional investors and hedge funds own 84.04% of Generac, while insiders own 2.40%; company insiders sold 18,442 shares worth about $3.66 million over the past three months under pre-arranged trading plans.
• Generac carries a “Moderate Buy” consensus rating with an average price target of $290.55, despite shares recently trading down 1.8% at $214.41. Its latest quarterly earnings of $2.91 per share exceeded analysts’ $2.01 estimate.

Courier Capital LLC raised its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 170.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,804 shares of the technology company's stock after acquiring an additional 6,807 shares during the quarter. Courier Capital LLC's holdings in Generac were worth $2,236,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GNRC. N.E.W. Advisory Services LLC acquired a new stake in Generac in the second quarter valued at approximately $25,000. Avalon Trust Co acquired a new stake in shares of Generac during the 1st quarter valued at $32,000. Essential Partners LLC grew its position in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after acquiring an additional 61 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Generac during the 1st quarter worth $36,000. Finally, Root Financial Partners LLC increased its holdings in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 54 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company's stock, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the completion of the sale, the chief executive officer directly owned 554,528 shares of the company's stock, valued at approximately $108,071,961.92. The trade was a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 18,442 shares of company stock valued at $3,656,537. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on GNRC shares. Needham & Company LLC reiterated a "buy" rating and issued a $283.00 target price on shares of Generac in a research report on Thursday, September 17th. Barclays cut their price target on Generac from $285.00 to $278.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings upgraded Generac from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Generac from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 19th. Finally, Robert W. Baird set a $305.00 price objective on Generac in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $290.55.

Generac Trading Down 1.8%

Shares of NYSE:GNRC traded down $3.96 during mid-day trading on Tuesday, reaching $214.41. 1,002,162 shares of the company's stock were exchanged, compared to its average volume of 1,089,444. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 1.92 and a beta of 1.91. The business's fifty day moving average price is $203.64 and its 200-day moving average price is $226.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. Generac's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. On average, research analysts predict that Generac Holdings Inc. will post 9.74 EPS for the current fiscal year.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company's product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.

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