Avitas Wealth Management LLC Decreases Position in Generac Holdings Inc. (NYSE:GNRC)

Avitas Wealth Management LLC reduced its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,130 shares of the technology company’s stock after selling 126 shares during the period. Avitas Wealth Management LLC’s holdings in Generac were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GNRC. Secure Asset Management LLC raised its holdings in shares of Generac by 4.3% in the second quarter. Secure Asset Management LLC now owns 10,559 shares of the technology company’s stock worth $1,396,000 after buying an additional 432 shares during the last quarter. LaFleur & Godfrey LLC lifted its position in Generac by 5.7% during the 2nd quarter. LaFleur & Godfrey LLC now owns 43,365 shares of the technology company’s stock worth $5,734,000 after acquiring an additional 2,352 shares during the period. Oak Family Advisors LLC grew its stake in Generac by 3.1% during the 2nd quarter. Oak Family Advisors LLC now owns 55,458 shares of the technology company’s stock valued at $7,333,000 after purchasing an additional 1,644 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in shares of Generac by 8.1% in the second quarter. MFA Wealth Advisors LLC now owns 18,811 shares of the technology company’s stock valued at $2,487,000 after purchasing an additional 1,406 shares during the period. Finally, Oak Harvest Investment Services purchased a new position in shares of Generac in the second quarter worth about $478,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GNRC. Piper Sandler upped their target price on Generac from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Scotiabank increased their price objective on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Canaccord Genuity Group increased their price target on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $154.71.

Generac Price Performance

Shares of Generac stock traded up $6.54 during mid-day trading on Friday, reaching $156.85. 497,878 shares of the stock traded hands, compared to its average volume of 989,354. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $146.17 and a 200 day moving average of $135.48. The stock has a market capitalization of $9.51 billion, a PE ratio of 43.21, a PEG ratio of 1.93 and a beta of 1.37. Generac Holdings Inc. has a fifty-two week low of $79.86 and a fifty-two week high of $169.57.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company earned $1.08 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Generac Holdings Inc. will post 6.3 EPS for the current year.

Generac Company 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.