Kingfisher Capital LLC Buys 900 Shares of Generac Holdings Inc. (NYSE:GNRC)

Kingfisher Capital LLC raised its stake in Generac Holdings Inc. (NYSE:GNRC) by 45.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,867 shares of the technology company’s stock after buying an additional 900 shares during the quarter. Kingfisher Capital LLC’s holdings in Generac were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GNRC. Brooklyn Investment Group acquired a new stake in shares of Generac during the third quarter worth $31,000. SouthState Corp acquired a new position in Generac during the 3rd quarter worth approximately $32,000. Sunbelt Securities Inc. grew its holdings in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

Shares of Generac stock opened at $190.40 on Friday. The firm has a market capitalization of $11.33 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 12 month low of $108.89 and a 12 month high of $195.94. The business’s 50-day moving average price is $171.99 and its 200-day moving average price is $154.93.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $1.64 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GNRC has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Citigroup lifted their price target on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group boosted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Stephens reiterated an “overweight” rating and set a $200.00 price target on shares of Generac in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.58.

Insider Activity

In related news, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,584,853 in the last quarter. 2.90% of the stock is owned by company insiders.

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.