Econ Financial Services Corp Makes New Investment in Generac Holdings Inc. $GNRC

Econ Financial Services Corp bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 13,209 shares of the technology company’s stock, valued at approximately $1,801,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Generac by 40.9% during the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock valued at $285,338,000 after purchasing an additional 577,933 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Generac in the 3rd quarter worth about $70,744,000. Norges Bank purchased a new stake in Generac in the 2nd quarter valued at about $53,138,000. Victory Capital Management Inc. increased its stake in Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Generac by 63.5% during the 2nd quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock worth $107,314,000 after buying an additional 291,012 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GNRC shares. Roth Mkm reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Generac in a report on Thursday, February 12th. Barclays lifted their price target on Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Thursday, January 22nd. Citigroup lowered Generac from a “buy” rating to a “neutral” rating and raised their target price for the company from $207.00 to $237.00 in a research report on Thursday, March 12th. Finally, Wells Fargo & Company lifted their target price on Generac from $234.00 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $228.47.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Generac Trading Up 5.1%

NYSE:GNRC opened at $194.94 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11.44 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.74. The firm’s 50 day moving average is $201.91 and its 200 day moving average is $175.70. Generac Holdings Inc. has a 12 month low of $99.50 and a 12 month high of $241.09.

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

Generac Company 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.