Econ Financial Services Corp Reduces Position in Generac Holdings Inc. $GNRC

Econ Financial Services Corp decreased its holdings in Generac Holdings Inc. (NYSE:GNRC) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,994 shares of the technology company’s stock after selling 3,215 shares during the period. Econ Financial Services Corp’s holdings in Generac were worth $1,952,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. DAVENPORT & Co LLC boosted its stake in Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock worth $53,190,000 after buying an additional 16,229 shares during the last quarter. Lighthouse Investment Partners LLC grew its holdings in Generac by 556.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 51,903 shares of the technology company’s stock valued at $8,689,000 after buying an additional 43,999 shares in the last quarter. Private Advisory Group LLC increased its stake in shares of Generac by 26.2% in the 4th quarter. Private Advisory Group LLC now owns 58,781 shares of the technology company’s stock worth $8,016,000 after acquiring an additional 12,191 shares during the last quarter. Altman Advisors Inc. acquired a new stake in shares of Generac in the 3rd quarter worth $1,807,000. Finally, Blair William & Co. IL raised its holdings in shares of Generac by 7.2% during the 3rd quarter. Blair William & Co. IL now owns 242,150 shares of the technology company’s stock worth $40,536,000 after acquiring an additional 16,182 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GNRC shares. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Robert W. Baird set a $311.00 price objective on shares of Generac in a research report on Thursday, April 30th. Argus lifted their target price on shares of Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup increased their price target on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.65.

Generac Stock Performance

Shares of Generac stock opened at $279.28 on Friday. The firm has a market cap of $16.44 billion, a PE ratio of 87.55, a price-to-earnings-growth ratio of 2.76 and a beta of 1.93. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac Holdings Inc. has a 52 week low of $134.80 and a 52 week high of $296.44. The business’s fifty day simple moving average is $259.31 and its 200-day simple moving average is $210.33.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. Equities analysts forecast that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Activity

In other Generac news, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares of the company’s stock, valued at $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.40% of the company’s stock.

About Generac

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.