Morse Asset Management Inc Has $749,000 Position in Generac Holdings Inc. (NYSE:GNRC)

Morse Asset Management Inc reduced its holdings in Generac Holdings Inc. (NYSE:GNRC) by 28.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,939 shares of the technology company’s stock after selling 2,314 shares during the period. Morse Asset Management Inc’s holdings in Generac were worth $749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in shares of Generac during the 4th quarter worth about $27,000. EntryPoint Capital LLC boosted its holdings in shares of Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after buying an additional 90 shares during the period. ORG Partners LLC bought a new stake in shares of Generac during the 4th quarter worth about $38,000. Quarry LP boosted its holdings in shares of Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after buying an additional 202 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its holdings in shares of Generac by 89.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 311 shares of the technology company’s stock worth $40,000 after buying an additional 147 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Roth Mkm upped their price target on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. OTR Global upgraded shares of Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Truist Financial upped their price target on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $142.11.

Generac Stock Up 4.4 %

NYSE GNRC traded up $6.65 on Friday, hitting $159.43. 798,316 shares of the company were exchanged, compared to its average volume of 883,556. The company has a market cap of $9.66 billion, a PE ratio of 43.92, a PEG ratio of 2.16 and a beta of 1.37. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $161.80. The stock has a fifty day moving average of $144.81 and a 200-day moving average of $131.30. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The business had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Generac’s revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Generac Holdings Inc. will post 6.16 earnings per share for the current year.

Insider Buying and Selling at Generac

In other Generac news, insider Patrick John Forsythe sold 65,855 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the transaction, the insider now directly owns 19,815 shares of the company’s stock, valued at $2,889,027. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares in the company, valued at $82,175,421.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,785 shares of company stock valued at $11,720,411. Corporate insiders own 2.80% of the company’s stock.

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.