Philip James Wealth Mangement LLC Invests $1.78 Million in Generac Holdings Inc. (NYSE:GNRC)

Philip James Wealth Mangement LLC purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,226 shares of the technology company’s stock, valued at approximately $1,784,000.

Several other institutional investors have also modified their holdings of the stock. Duncker Streett & Co. Inc. raised its holdings in shares of Generac by 2.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock worth $388,000 after acquiring an additional 68 shares during the period. Empirical Finance LLC raised its holdings in shares of Generac by 4.5% during the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock worth $220,000 after acquiring an additional 75 shares during the period. Johnson Investment Counsel Inc. raised its holdings in shares of Generac by 0.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock worth $2,981,000 after acquiring an additional 75 shares during the period. EntryPoint Capital LLC raised its holdings in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Finally, Mather Group LLC. raised its holdings in Generac by 6.5% in the 3rd quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock valued at $243,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GNRC. Truist Financial boosted their price objective on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Scotiabank boosted their price objective on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a report on Monday, August 5th. Finally, Piper Sandler boosted their price objective on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.10.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Generac Stock Up 1.1 %

Shares of Generac stock traded up $1.97 on Friday, reaching $188.68. 67,899 shares of the company were exchanged, compared to its average volume of 956,428. Generac Holdings Inc. has a 1-year low of $101.15 and a 1-year high of $189.55. The company has a market cap of $11.35 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock’s 50 day moving average price is $159.17 and its 200-day moving average price is $149.52.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, equities analysts forecast that Generac Holdings Inc. will post 6.76 EPS for the current year.

About Generac

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.