Grimes & Company Inc. Makes New Investment in Generac Holdings Inc. (NYSE:GNRC)

Grimes & Company Inc. purchased a new position in Generac Holdings Inc. (NYSE:GNRC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 49,468 shares of the technology company’s stock, valued at approximately $6,265,000.

A number of other hedge funds have also recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in shares of Generac by 79.5% during the 1st quarter. QRG Capital Management Inc. now owns 3,441 shares of the technology company’s stock valued at $436,000 after buying an additional 1,524 shares during the period. Sowell Financial Services LLC purchased a new stake in Generac in the 1st quarter worth $416,000. Hanson & Doremus Investment Management boosted its holdings in shares of Generac by 6.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 3,216 shares of the technology company’s stock valued at $407,000 after purchasing an additional 182 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Generac by 22.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 733 shares of the technology company’s stock valued at $93,000 after purchasing an additional 133 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Generac by 151.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,670 shares of the technology company’s stock valued at $2,365,000 after acquiring an additional 11,252 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GNRC. TD Cowen lowered their price target on shares of Generac from $173.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group reduced their target price on shares of Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stephens reissued an “overweight” rating and set a $175.00 price objective on shares of Generac in a report on Tuesday, May 27th. Piper Sandler cut their price target on shares of Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, TD Securities cut their price target on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus price target of $169.17.

Generac Stock Up 1.2%

GNRC opened at $126.23 on Tuesday. Generac Holdings Inc. has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The company has a fifty day moving average of $120.13 and a two-hundred day moving average of $137.74. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.44 and a beta of 1.70.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.27. The business had revenue of $942.12 million during the quarter, compared to analysts’ expectations of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. On average, research analysts expect that Generac Holdings Inc. will post 8 earnings per share 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.