Cornerstone Wealth Management LLC Invests $227,000 in Generac Holdings Inc. (NYSE:GNRC)

Cornerstone Wealth Management LLC acquired a new position in Generac Holdings Inc. (NYSE:GNRC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,428 shares of the technology company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in shares of Generac in the second quarter worth $98,282,000. Wellington Management Group LLP lifted its position in Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after acquiring an additional 318,664 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Generac by 831.1% during the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Generac by 21.4% in the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after purchasing an additional 74,115 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Trading Down 0.7 %

GNRC stock opened at $167.28 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. Generac Holdings Inc. has a 1-year low of $79.86 and a 1-year high of $176.14. The business has a 50 day simple moving average of $153.90 and a two-hundred day simple moving average of $146.00. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 46.08, a PEG ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 6.47 EPS for the current fiscal year.

Analysts Set New Price Targets

GNRC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday. Piper Sandler boosted their price objective on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird raised their price target on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Truist Financial upped their price objective on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.43.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Generac 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.