Evercore Wealth Management LLC Buys 17,711 Shares of Generac Holdings Inc. (NYSE:GNRC)

Evercore Wealth Management LLC grew its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 430,068 shares of the technology company’s stock after acquiring an additional 17,711 shares during the quarter. Evercore Wealth Management LLC’s holdings in Generac were worth $66,682,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares during the period. Diamant Asset Management Inc. boosted its position in Generac by 11.7% during the third quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company’s stock worth $605,000 after purchasing an additional 400 shares during the period. Morse Asset Management Inc grew its stake in Generac by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock valued at $967,000 after buying an additional 145 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Generac in the third quarter valued at $51,000. Finally, Synovus Financial Corp bought a new stake in shares of Generac during the third quarter valued at about $300,000. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GNRC. UBS Group upped their price objective on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus reduced their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird decreased their price objective on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.40.

Generac Stock Performance

Shares of GNRC opened at $110.67 on Wednesday. The business has a 50-day simple moving average of $126.63 and a two-hundred day simple moving average of $152.87. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac Holdings Inc. has a 52 week low of $99.50 and a 52 week high of $195.94. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.44 and a beta of 1.58.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, analysts expect that Generac Holdings Inc. will post 8 EPS for the current year.

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Generac Company Profile

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.