Simplicity Wealth LLC Purchases Shares of 2,665 Generac Holdings Inc. $GNRC

Simplicity Wealth LLC acquired a new stake in shares of Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,665 shares of the technology company’s stock, valued at approximately $780,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its position in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after buying an additional 806,430 shares during the period. Diamant Asset Management Inc. grew its position in Generac by 19,433.0% during the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after acquiring an additional 662,665 shares during the period. Bank of Montreal Can increased its stake in Generac by 1,141.1% during the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares during the last quarter. Norges Bank acquired a new stake in Generac during the fourth quarter worth about $68,590,000. Finally, Robeco Schweiz AG purchased a new position in shares of Generac in the 4th quarter worth about $51,020,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Trading Up 0.1%

Shares of NYSE:GNRC opened at $219.58 on Monday. The company has a 50 day moving average of $238.22 and a 200-day moving average of $228.31. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm has a market cap of $12.96 billion, a P/E ratio of 50.59, a P/E/G ratio of 1.88 and a beta of 1.92. Generac Holdings Inc. has a twelve month low of $134.80 and a twelve month high of $296.44.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that Generac Holdings Inc. will post 9.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GNRC shares. TD Cowen restated a “buy” rating on shares of Generac in a research note on Monday, July 20th. Needham & Company LLC upped their price objective on Generac from $282.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group reduced their target price on Generac from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Stephens reiterated an “overweight” rating and issued a $290.00 target price on shares of Generac in a research report on Thursday, May 21st. Finally, DA Davidson set a $333.00 price target on Generac in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $284.84.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Andrew Raabe sold 586 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $213.35, for a total value of $125,023.10. Following the completion of the transaction, the insider owned 10,746 shares of the company’s stock, valued at $2,292,659.10. This trade represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 12,236 shares of company stock worth $2,871,273. 2.40% of the stock is owned by insiders.

Generac Profile

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.