Virtu Financial LLC Buys Shares of 14,798 Generac Holdings Inc. (NYSE:GNRC)

Virtu Financial LLC bought a new position in Generac Holdings Inc. (NYSE:GNRC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,798 shares of the technology company’s stock, valued at approximately $1,957,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GNRC. Teacher Retirement System of Texas boosted its stake in shares of Generac by 91.7% during the fourth quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock valued at $1,187,000 after purchasing an additional 4,393 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after acquiring an additional 214,322 shares during the period. Capital World Investors bought a new position in shares of Generac in the 4th quarter worth $155,707,000. Kampmann Melissa S. purchased a new stake in shares of Generac during the 4th quarter worth $750,000. Finally, Bank of Nova Scotia boosted its position in Generac by 1,350.9% during the fourth quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 30,315 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Generac Stock Up 1.6 %

GNRC stock opened at $143.75 on Wednesday. The company has a market capitalization of $8.71 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. Generac Holdings Inc. has a 12 month low of $79.86 and a 12 month high of $169.57. The firm’s fifty day simple moving average is $149.59 and its 200-day simple moving average is $139.26. 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 (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. The company had revenue of $998.20 million for 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%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, equities research analysts forecast that Generac Holdings Inc. will post 6.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GNRC shares. JPMorgan Chase & Co. boosted their target price on shares of Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Guggenheim cut shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price for the company. in a research report on Thursday, May 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $175.00 price target (up from $145.00) on shares of Generac in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Truist Financial boosted their target price on Generac from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $154.71.

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.