Wells Fargo & Company MN grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 110.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,548 shares of the technology company’s stock after purchasing an additional 114,923 shares during the quarter. Wells Fargo & Company MN’s holdings in Generac were worth $15,169,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in GNRC. Zions Bancorporation N.A. purchased a new position in Generac during the first quarter worth approximately $39,000. Quadrant Capital Group LLC acquired a new stake in shares of Generac in the 1st quarter worth $52,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Generac in the 2nd quarter worth $76,000. ETF Managers Group LLC increased its stake in shares of Generac by 9.7% in the 1st quarter. ETF Managers Group LLC now owns 3,116 shares of the technology company’s stock worth $160,000 after acquiring an additional 276 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new position in shares of Generac during the 1st quarter worth $205,000. 96.54% of the stock is owned by institutional investors and hedge funds.
In other news, insider Russell S. Minick sold 10,328 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $73.91, for a total value of $763,342.48. Following the transaction, the insider now directly owns 24,743 shares in the company, valued at approximately $1,828,755.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Erik Wilde sold 7,587 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the transaction, the executive vice president now directly owns 11,196 shares of the company’s stock, valued at approximately $799,842.24. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Generac stock traded up $0.44 during mid-day trading on Monday, hitting $80.28. The company’s stock had a trading volume of 17,427 shares, compared to its average volume of 633,318. The stock’s fifty day moving average is $73.89 and its two-hundred day moving average is $62.07. The company has a current ratio of 2.19, a quick ratio of 1.00 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $4.98 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.58 and a beta of 1.19. Generac Holdings Inc. has a 1 year low of $45.43 and a 1 year high of $80.82.
Generac (NYSE:GNRC) last posted its earnings results on Thursday, August 1st. The technology company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Generac had a return on equity of 38.99% and a net margin of 12.09%. The company had revenue of $541.90 million for the quarter, compared to the consensus estimate of $538.96 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts expect that Generac Holdings Inc. will post 4.8 EPS for the current fiscal year.
GNRC has been the topic of several recent research reports. Bank of America lowered their price target on shares of Generac from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday. Robert W. Baird upgraded shares of Generac from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $64.00 to $86.00 in a research report on Monday, July 1st. Canaccord Genuity lifted their target price on shares of Generac from $74.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday. ValuEngine downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Generac from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Generac has a consensus rating of “Hold” and an average price target of $76.83.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
Read More: Float
Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. (NYSE:GNRC).
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.