Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Generac Holdings Inc. (NYSE:GNRC)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Generac Holdings Inc. (NYSE:GNRC - Free Report) by 151.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,670 shares of the technology company's stock after buying an additional 11,252 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Generac were worth $2,365,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hurley Capital LLC bought a new position in shares of Generac in the fourth quarter worth about $26,000. Quadrant Capital Group LLC raised its stake in Generac by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock valued at $35,000 after purchasing an additional 87 shares during the period. Ostrum Asset Management purchased a new position in Generac in the 4th quarter worth approximately $50,000. Wintrust Investments LLC boosted its stake in Generac by 55.1% in the 4th quarter. Wintrust Investments LLC now owns 428 shares of the technology company's stock worth $66,000 after purchasing an additional 152 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Generac in the 4th quarter worth approximately $70,000. 84.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GNRC. TD Cowen reduced their price objective on Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird cut their price objective on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Citigroup raised Generac from a "neutral" rating to a "buy" rating and cut their target price for the company from $162.00 to $138.00 in a research report on Thursday, April 17th. Canaccord Genuity Group dropped their price target on Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their price objective on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Seven 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $169.17.

Generac Stock Performance

Shares of Generac stock opened at $142.58 on Friday. Generac Holdings Inc. has a one year low of $99.50 and a one year high of $195.94. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.28 and a beta of 1.70. The business's 50 day moving average price is $123.90 and its 200 day moving average price is $135.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.