Procyon Advisors LLC Increases Stake in Generac Holdings Inc. $GNRC

Procyon Advisors LLC lifted its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 80.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,736 shares of the technology company’s stock after purchasing an additional 12,333 shares during the period. Procyon Advisors LLC’s holdings in Generac were worth $3,782,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Generac in the 3rd quarter valued at about $70,744,000. Strs Ohio grew its position in Generac by 583.4% during the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock worth $9,725,000 after acquiring an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Generac by 2.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after acquiring an additional 15,280 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Generac by 2.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock worth $51,728,000 after purchasing an additional 10,325 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Generac by 30.5% in the third quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock valued at $14,501,000 after purchasing an additional 20,270 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GNRC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating and issued a $270.00 target price on shares of Generac in a research note on Friday, February 13th. Bank of America lowered their price target on shares of Generac from $236.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Citigroup lowered shares of Generac from a “buy” rating to a “neutral” rating and raised their price target for the stock from $207.00 to $237.00 in a report on Thursday, March 12th. Finally, Jefferies Financial Group assumed coverage on shares of Generac in a research report on Friday. They issued a “hold” rating and a $222.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.06.

Generac Stock Down 1.0%

Shares of NYSE:GNRC opened at $198.93 on Friday. The firm has a market capitalization of $11.67 billion, a P/E ratio of 74.23, a P/E/G ratio of 1.45 and a beta of 1.74. The stock has a 50 day moving average price of $196.56 and a 200-day moving average price of $174.96. Generac Holdings Inc. has a 52-week low of $99.50 and a 52-week high of $241.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.Generac’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 EPS. As a group, equities research analysts anticipate that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

Insider Activity

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. This trade represents a 15.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by insiders.

Generac Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.