Chase Investment Counsel Corp Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Chase Investment Counsel Corp acquired a new stake in Generac Holdings Inc. (NYSE:GNRC) during the 3rd quarter, Holdings Channel reports. The fund acquired 26,972 shares of the technology company’s stock, valued at approximately $4,285,000.

Other hedge funds also recently made changes to their positions in the company. Willis Investment Counsel lifted its position in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after acquiring an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Generac by 85.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after buying an additional 3,244 shares in the last quarter. Epoch Investment Partners Inc. purchased a new stake in Generac in the 1st quarter worth approximately $1,053,000. Nwam LLC boosted its position in shares of Generac by 135.8% during the 1st quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock valued at $768,000 after acquiring an additional 3,242 shares during the last quarter. Finally, Natixis increased its stake in Generac by 716.5% in the first quarter. Natixis now owns 1,135 shares of the technology company’s stock valued at $143,000 after acquiring an additional 996 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on GNRC shares. Truist Financial lifted their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen lifted their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $175.00 price target (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. Finally, Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.10.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the transaction, the chief executive officer now directly owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last 90 days. Insiders own 2.90% of the company’s stock.

Generac Stock Performance

Generac stock opened at $190.32 on Wednesday. The company has a market cap of $11.32 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $161.47 and its 200-day moving average price is $150.85. Generac Holdings Inc. has a twelve month low of $102.23 and a twelve month high of $195.94.

Generac (NYSE:GNRC) last issued its 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. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current fiscal 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.