Smith Salley Wealth Management Buys 318 Shares of Generac Holdings Inc. (NYSE:GNRC)

Smith Salley Wealth Management increased its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 8.2% in the first quarter, Holdings Channel.com reports. The firm owned 4,200 shares of the technology company’s stock after buying an additional 318 shares during the quarter. Smith Salley Wealth Management’s holdings in Generac were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GNRC. ICA Group Wealth Management LLC acquired a new position in shares of Generac in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Generac in the fourth quarter worth $28,000. ORG Partners LLC acquired a new stake in Generac in the fourth quarter valued at $38,000. Quarry LP raised its position in Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its holdings in Generac by 89.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock worth $40,000 after buying an additional 147 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Stock Up 0.5 %

NYSE GNRC traded up $0.73 during trading hours on Tuesday, hitting $142.92. The company’s stock had a trading volume of 673,807 shares, compared to its average volume of 998,475. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $140.41 and its two-hundred day simple moving average is $128.64. The company has a market capitalization of $8.66 billion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. Generac Holdings Inc. has a 52 week low of $79.86 and a 52 week high of $156.95.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Generac’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that Generac Holdings Inc. will post 6.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GNRC shares. Canaccord Genuity Group raised their price objective on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Truist Financial upped their price objective on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Janney Montgomery Scott downgraded shares of Generac from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. Oppenheimer cut shares of Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com lowered Generac from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.67.

Insiders Place Their Bets

In other Generac news, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares in the company, valued at approximately $2,889,027. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The disclosure for this sale can be found here. Insiders have sold 80,785 shares of company stock valued at $11,720,411 in the last three months. 2.80% of the stock is currently owned by 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.