New Century Financial Group LLC Acquires Shares of 7,340 Generac Holdings Inc. (NYSE:GNRC)

New Century Financial Group LLC bought a new stake in Generac Holdings Inc. (NYSE:GNRC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,340 shares of the technology company’s stock, valued at approximately $1,166,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GNRC. The Manufacturers Life Insurance Company boosted its stake in Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after buying an additional 299,205 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Generac in the third quarter worth about $45,722,000. International Assets Investment Management LLC boosted its stake in shares of Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after purchasing an additional 266,026 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Generac by 678.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after purchasing an additional 167,641 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in Generac by 86.9% during the 3rd quarter. Hodges Capital Management Inc. now owns 166,278 shares of the technology company’s stock worth $26,418,000 after purchasing an additional 77,296 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

GNRC stock opened at $156.45 on Friday. The firm has a market cap of $9.31 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.66 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $169.06 and a 200-day moving average price of $161.23. Generac Holdings Inc. has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm posted $1.64 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that Generac Holdings Inc. will post 6.91 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Citigroup reduced their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus increased their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, TD Cowen raised their price objective on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $174.30.

Insider Activity

In other news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,577,703 in the last quarter. 2.90% of the stock is owned by corporate 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.