Coldstream Capital Management Inc. Takes Position in Generac Holdings Inc. (NYSE:GNRC)

Coldstream Capital Management Inc. purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,258 shares of the technology company’s stock, valued at approximately $203,000.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in Generac during the second quarter worth about $98,282,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after acquiring an additional 299,205 shares during the period. Jennison Associates LLC bought a new stake in shares of Generac during the 3rd quarter worth approximately $45,722,000. International Assets Investment Management LLC boosted its position in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after acquiring an additional 266,026 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Generac by 678.5% in the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after acquiring an additional 167,641 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Stock Down 1.2 %

Shares of Generac stock opened at $165.11 on Wednesday. The stock’s 50-day moving average is $177.34 and its 200 day moving average is $157.58. Generac Holdings Inc. has a one year low of $108.89 and a one year high of $195.94. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

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 analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 EPS. Equities research analysts anticipate that Generac Holdings Inc. will post 6.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GNRC shares. Barclays assumed coverage on Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial raised their price objective on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Citigroup boosted their price target on Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.30.

Insider Buying and Selling at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 135,613 shares in the company, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $833,000.00. Following the transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,268 shares of company stock valued at $7,584,853. Corporate insiders own 2.90% of the company’s stock.

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.