GRIMES & Co WEALTH MANAGEMENT LLC cut its stake in shares of Generac Holdings Inc. (NYSE:GNRC – Free Report) by 12.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,547 shares of the technology company’s stock after selling 4,086 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Generac were worth $6,115,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Generac during the second quarter worth $25,000. Avalon Trust Co acquired a new position in shares of Generac in the 1st quarter valued at $32,000. Essential Partners LLC increased its stake in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Root Financial Partners LLC increased its stake in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 54 shares in the last quarter. Finally, Fiduciary Financial Advisors purchased a new position in Generac in the 2nd quarter worth about $50,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have issued reports on GNRC. Cantor Fitzgerald cut their price objective on Generac from $333.00 to $297.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. HSBC cut shares of Generac to a “hold” rating and set a $333.00 target price for the company. in a report on Thursday, September 17th. Citigroup lifted their target price on shares of Generac from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Generac from $261.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, TD Cowen upgraded shares of Generac to a “strong-buy” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $290.41.
Generac Stock Performance
Shares of GNRC stock opened at $201.57 on Tuesday. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 1.72 and a beta of 1.91. Generac Holdings Inc. has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a current ratio of 1.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $199.08 and its 200-day simple moving average is $217.71.
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.14. Generac had a return on equity of 18.78% and a net margin of 6.52%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $1.83 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, sell-side analysts predict that Generac Holdings Inc. will post 9.80 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $182.21, for a total value of $911,050.00. Following the transaction, the chief executive officer owned 549,528 shares in the company, valued at $100,129,496.88. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider directly owned 9,966 shares of the company’s stock, valued at $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,442 shares of company stock worth $2,682,087 in the last 90 days. Company insiders own 2.40% of the company’s stock.
About Generac
Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.
The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.
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