Matrix Asset Advisors Inc. NY Raises Stock Holdings in Generac Holdings Inc. $GNRC

Matrix Asset Advisors Inc. NY boosted its stake in shares of Generac Holdings Inc. (NYSE:GNRC) by 68.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,991 shares of the technology company’s stock after buying an additional 46,101 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Generac were worth $15,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares during the period. Woodline Partners LP raised its position in Generac by 40.9% in the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after purchasing an additional 1,463 shares during the period. Quadrant Capital Group LLC lifted its stake in Generac by 4.4% during the second quarter. Quadrant Capital Group LLC now owns 2,237 shares of the technology company’s stock worth $320,000 after purchasing an additional 95 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Generac by 0.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 58,847 shares of the technology company’s stock worth $8,427,000 after purchasing an additional 510 shares in the last quarter. Finally, Level Four Advisory Services LLC purchased a new position in shares of Generac during the second quarter worth $254,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GNRC. Roth Mkm reaffirmed a “neutral” rating and issued a $220.00 price objective on shares of Generac in a research note on Thursday, February 12th. Needham & Company LLC restated a “buy” rating and set a $277.00 target price on shares of Generac in a report on Thursday, March 26th. Wells Fargo & Company lifted their target price on Generac from $234.00 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, March 26th. Robert W. Baird set a $292.00 price target on shares of Generac in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.94.

Insider Buying and Selling

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Generac Stock Up 1.9%

Shares of Generac stock opened at $198.99 on Thursday. The company has a quick ratio of 1.00, a current ratio of 2.03 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 $241.09. The company has a market capitalization of $11.68 billion, a P/E ratio of 74.25, a P/E/G ratio of 1.39 and a beta of 1.78. The company has a 50 day moving average of $202.45 and a 200 day moving average of $175.87.

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 analysts’ consensus estimates of $1.81 by ($0.20). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. Generac’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. As a group, research analysts forecast that Generac Holdings Inc. will post 8 EPS for the current fiscal year.

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.