First Trust Advisors LP Increases Stock Position in Generac Holdings Inc. (NYSE:GNRC)

First Trust Advisors LP boosted its position in Generac Holdings Inc. (NYSE:GNRC - Free Report) by 828.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,548 shares of the technology company's stock after buying an additional 150,385 shares during the quarter. First Trust Advisors LP owned approximately 0.28% of Generac worth $26,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in Generac by 3.0% during the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company's stock valued at $435,000 after acquiring an additional 80 shares during the period. Venturi Wealth Management LLC raised its stake in Generac by 42.0% in the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company's stock worth $44,000 after buying an additional 84 shares in the last quarter. Wedbush Securities Inc. lifted its position in Generac by 3.9% during the fourth quarter. Wedbush Securities Inc. now owns 2,235 shares of the technology company's stock valued at $347,000 after buying an additional 84 shares during the period. Quadrant Capital Group LLC grew its position in shares of Generac by 61.7% in the 4th quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock worth $35,000 after buying an additional 87 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its position in Generac by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,518 shares of the technology company's stock valued at $235,000 after acquiring an additional 90 shares during the period. 84.04% of the stock is currently owned by institutional investors.

Generac Price Performance

Shares of NYSE:GNRC traded up $0.17 on Thursday, reaching $114.55. The company's stock had a trading volume of 260,432 shares, compared to its average volume of 859,747. The company has a 50-day simple moving average of $123.07 and a 200 day simple moving average of $150.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The company has a market cap of $6.83 billion, a P/E ratio of 21.32, a PEG ratio of 1.44 and a beta of 1.58. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $195.94.

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, beating the consensus estimate of $0.99 by $0.27. The business had revenue of $942.12 million during the quarter, compared to analyst estimates of $921.78 million. Generac had a return on equity of 18.17% and a net margin of 7.36%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GNRC shares. Wells Fargo & Company lowered their target price on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating for the company in a report on Thursday. Piper Sandler reduced their price target on Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group dropped their price target on shares of Generac from $193.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Bank of America initiated coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 price target for the company. Finally, Guggenheim raised Generac from a "sell" rating to a "neutral" rating in a report on Monday, March 17th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.95.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

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.