ProShare Advisors LLC Sells 1,940 Shares of Generac Holdings Inc. (NYSE:GNRC)

ProShare Advisors LLC cut its holdings in shares of Generac Holdings Inc. (NYSE:GNRC) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,129 shares of the technology company’s stock after selling 1,940 shares during the quarter. ProShare Advisors LLC’s holdings in Generac were worth $1,207,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GNRC. ICA Group Wealth Management LLC acquired a new stake in shares of Generac in the 4th quarter valued at approximately $27,000. EntryPoint Capital LLC grew its position in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after acquiring an additional 90 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Generac in the 2nd quarter valued at about $38,000. Finally, Quarry LP grew its holdings in Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.

Generac Stock Performance

GNRC opened at $154.84 on Friday. The firm has a market cap of $9.39 billion, a P/E ratio of 42.66, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38. The business’s fifty day moving average is $148.58 and its 200-day moving average is $140.78. Generac Holdings Inc. has a 52-week low of $79.86 and a 52-week high of $169.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Generac (NYSE:GNRC) last released its 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. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm earned $1.08 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. Sell-side analysts expect that Generac Holdings Inc. will post 6.5 EPS for the current fiscal year.

Analysts Set New Price Targets

GNRC has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $175.00 price objective on shares of Generac in a research note on Tuesday, September 24th. Stifel Nicolaus restated a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company raised their target price on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Generac presently has an average rating of “Hold” and an average target price of $154.71.

Generac Company 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.