Somerset Trust Co Makes New $211,000 Investment in Generac Holdings Inc. (NYSE:GNRC)

Somerset Trust Co purchased a new position in shares of Generac Holdings Inc. (NYSE:GNRC) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,670 shares of the technology company’s stock, valued at approximately $211,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC lifted its position in shares of Generac by 26.2% during the 3rd quarter. Pathstone Family Office LLC now owns 3,853 shares of the technology company’s stock valued at $420,000 after acquiring an additional 800 shares during the period. PNC Financial Services Group Inc. raised its holdings in Generac by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 18,544 shares of the technology company’s stock worth $2,021,000 after purchasing an additional 719 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Generac by 16.9% during the third quarter. Rafferty Asset Management LLC now owns 10,309 shares of the technology company’s stock worth $1,123,000 after purchasing an additional 1,492 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Generac in the third quarter valued at $679,000. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Generac by 27.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 95,603 shares of the technology company’s stock valued at $10,417,000 after buying an additional 20,317 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

GNRC opened at $138.88 on Thursday. Generac Holdings Inc. has a twelve month low of $79.86 and a twelve month high of $156.95. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 1.89 and a beta of 1.44. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $139.60 and a 200 day simple moving average of $127.45.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.72 by $0.16. The company had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts expect that Generac Holdings Inc. will post 6.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Janney Montgomery Scott lowered shares of Generac from a “buy” rating to a “neutral” rating and increased their price target for the company from $126.00 to $154.00 in a research report on Thursday, June 13th. Oppenheimer downgraded Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Canaccord Genuity Group increased their target price on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $149.00 price target on shares of Generac in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Generac currently has an average rating of “Hold” and an average price target of $141.67.

Insiders Place Their Bets

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 transaction of $699,750.00. Following the transaction, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the sale, the director now owns 3,512 shares in the company, valued at $493,611.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total transaction of $699,750.00. Following the completion of the transaction, the chief executive officer now directly owns 587,177 shares in the company, valued at approximately $82,175,421.15. The disclosure for this sale can be found here. Insiders sold a total of 80,785 shares of company stock valued at $11,688,161 in the last ninety days. Corporate insiders own 2.80% 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.