Kennedy Capital Management LLC cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 27.5% in the fourth quarter, Holdings Channel reports. The fund owned 49,204 shares of the technology company’s stock after selling 18,706 shares during the period. Kennedy Capital Management LLC’s holdings in Generac were worth $6,710,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after buying an additional 45,592 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Generac by 17.9% in the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares during the last quarter. Boston Partners raised its holdings in shares of Generac by 7.1% in the third quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after buying an additional 128,439 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Generac by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after buying an additional 6,332 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Generac by 20.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock valued at $184,870,000 after buying an additional 189,457 shares during the last quarter. 84.04% of the stock is owned by institutional investors.
Generac Stock Performance
Shares of NYSE:GNRC opened at $269.84 on Tuesday. The stock has a market capitalization of $15.89 billion, a P/E ratio of 84.59, a P/E/G ratio of 2.45 and a beta of 1.93. Generac Holdings Inc. has a 1-year low of $123.94 and a 1-year high of $294.18. The business has a 50-day moving average price of $245.27 and a two-hundred day moving average price of $202.79. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.
Analyst Ratings Changes
A number of research firms recently issued reports on GNRC. JPMorgan Chase & Co. lifted their price target on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Stephens reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Generac in a report on Thursday, May 21st. UBS Group lifted their price target on Generac from $305.00 to $335.00 and gave the company a “buy” rating in a report on Thursday. Bank of America cut their price target on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average price target of $278.65.
Read Our Latest Report on Generac
Insider Transactions at Generac
In other news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the sale, the insider directly owned 16,108 shares of the company’s stock, valued at $4,385,564.08. This represents a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.40% of the company’s stock.
Generac Profile
Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.
Generac’s product lineup addresses a broad range of customer needs.
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