Envestnet Asset Management Inc. Acquires 22,659 Shares of Generac Holdings Inc. (NYSE:GNRC)

Envestnet Asset Management Inc. lifted its stake in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 564,856 shares of the technology company's stock after acquiring an additional 22,659 shares during the period. Envestnet Asset Management Inc. owned 0.95% of Generac worth $71,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Nebula Research & Development LLC bought a new stake in shares of Generac in the 4th quarter worth approximately $3,638,000. Pinebridge Investments L.P. raised its holdings in shares of Generac by 28.1% in the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock worth $10,697,000 after purchasing an additional 15,147 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Generac by 19.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock worth $929,000 after purchasing an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Generac in the 1st quarter worth approximately $245,000. Finally, Evercore Wealth Management LLC raised its holdings in shares of Generac by 4.3% in the 4th quarter. Evercore Wealth Management LLC now owns 430,068 shares of the technology company's stock worth $66,682,000 after purchasing an additional 17,711 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

Generac Stock Down 0.9%

Shares of GNRC traded down $1.33 during mid-day trading on Friday, hitting $150.66. 661,714 shares of the company's stock were exchanged, compared to its average volume of 864,880. The firm has a fifty day moving average of $131.40 and a two-hundred day moving average of $134.50. Generac Holdings Inc. has a twelve month low of $99.50 and a twelve month high of $195.94. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 26.25, a P/E/G ratio of 1.37 and a beta of 1.72. The company has a quick ratio of 0.89, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a net margin of 7.68% and a return on equity of 18.90%. The business had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. During the same period in the prior year, the firm earned $0.88 EPS. Generac's quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GNRC shares. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Guggenheim upgraded shares of Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Wells Fargo & Company cut their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup upgraded shares of Generac from a "neutral" rating to a "buy" rating and cut their price target for the company from $162.00 to $138.00 in a report on Thursday, April 17th. Finally, Piper Sandler cut their price target on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.17.

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.