Generac Holdings Inc. (NYSE:GNRC) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC grew its position in shares of Generac Holdings Inc. (NYSE:GNRC) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,192 shares of the technology company’s stock after buying an additional 349 shares during the quarter. Merit Financial Group LLC’s holdings in Generac were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GNRC. Carnegie Investment Counsel lifted its position in Generac by 11.2% in the fourth quarter. Carnegie Investment Counsel now owns 28,080 shares of the technology company’s stock valued at $4,354,000 after purchasing an additional 2,834 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Generac by 462.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 46,147 shares of the technology company’s stock valued at $7,155,000 after buying an additional 37,947 shares during the period. Fiduciary Financial Group LLC acquired a new stake in shares of Generac in the 4th quarter valued at approximately $287,000. Global Financial Private Client LLC acquired a new position in Generac during the fourth quarter worth $614,000. Finally, Forza Wealth Management LLC purchased a new position in Generac in the fourth quarter worth $262,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer now owns 570,825 shares in the company, valued at approximately $89,904,937.50. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,577,703 over the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

GNRC has been the topic of several research analyst reports. Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their target price on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen increased their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird dropped their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.30.

Generac Price Performance

GNRC stock opened at $157.40 on Friday. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac Holdings Inc. has a 52-week low of $108.89 and a 52-week high of $195.94. The stock’s fifty day simple moving average is $167.98 and its 200-day simple moving average is $161.30.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $1.64 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that Generac Holdings Inc. will post 6.91 EPS for the current year.

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.